Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $42.60

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned a consensus rating of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.60.

A number of equities research analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a report on Tuesday, September 10th. StockNews.com downgraded shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday.

Insider Activity at NBT Bancorp

In related news, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. The trade was a 1.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy E. Delaney sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares in the company, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 182,556 shares of company stock worth $8,540,290 in the last three months. Company insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBTB. Franklin Resources Inc. lifted its stake in shares of NBT Bancorp by 472.1% in the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank’s stock worth $3,379,000 after buying an additional 61,451 shares in the last quarter. Geode Capital Management LLC raised its holdings in NBT Bancorp by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,410 shares of the bank’s stock valued at $49,477,000 after acquiring an additional 10,628 shares during the last quarter. Barclays PLC lifted its stake in NBT Bancorp by 41.8% in the 3rd quarter. Barclays PLC now owns 91,880 shares of the bank’s stock worth $4,064,000 after purchasing an additional 27,085 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of NBT Bancorp during the 3rd quarter worth approximately $1,278,000. Finally, HighTower Advisors LLC purchased a new stake in shares of NBT Bancorp in the third quarter valued at approximately $235,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Down 0.1 %

Shares of NBT Bancorp stock opened at $50.08 on Friday. The firm’s 50 day simple moving average is $46.21 and its two-hundred day simple moving average is $43.48. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.63 and a beta of 0.49. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.31. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period in the prior year, the firm earned $0.84 EPS. Analysts predict that NBT Bancorp will post 2.91 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.72%. NBT Bancorp’s payout ratio is 47.89%.

NBT Bancorp Company Profile

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.