NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Rating of “Moderate Buy” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $51.75.

A number of research firms have commented on NBTB. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods lifted their price objective on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th.

Insider Buying and Selling at NBT Bancorp

In related news, EVP Amy Wiles sold 500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. The trade was a 1.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack H. Webb sold 10,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $50.06, for a total transaction of $500,600.00. Following the completion of the sale, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,694 shares of company stock worth $3,089,085 over the last ninety days. 3.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of NBT Bancorp by 47.9% in the third quarter. GAMMA Investing LLC now owns 778 shares of the bank’s stock worth $34,000 after acquiring an additional 252 shares during the last quarter. US Bancorp DE bought a new stake in NBT Bancorp in the 3rd quarter valued at $57,000. Quest Partners LLC acquired a new stake in NBT Bancorp in the 3rd quarter worth $57,000. Crews Bank & Trust bought a new position in shares of NBT Bancorp during the 4th quarter worth about $98,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NBT Bancorp during the third quarter valued at about $103,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Trading Up 1.4 %

NBT Bancorp stock opened at $49.02 on Friday. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The firm’s 50 day moving average price is $48.51 and its two-hundred day moving average price is $47.11. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 16.56 and a beta of 0.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same period last year, the firm earned $0.72 earnings per share. On average, research analysts predict that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, March 3rd. NBT Bancorp’s payout ratio is presently 45.95%.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.