Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) PT at $41.60

NBT Bancorp Inc. (NASDAQ:NBTBGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.60.

NBTB has been the topic of several analyst reports. Raymond James raised their target price on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Piper Sandler dropped their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, March 21st. Keefe, Bruyette & Woods dropped their price objective on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Finally, Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, February 14th.

Check Out Our Latest Research Report on NBTB

Insider Activity

In other news, Director Lowell A. Seifter sold 4,770 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.50, for a total value of $178,875.00. Following the transaction, the director now owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Scott Allen Kingsley bought 1,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The shares were acquired at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the transaction, the chief financial officer now directly owns 25,513 shares in the company, valued at approximately $938,878.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lowell A. Seifter sold 4,770 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the completion of the transaction, the director now owns 44,362 shares in the company, valued at approximately $1,663,575. The disclosure for this sale can be found here. Insiders have sold a total of 8,641 shares of company stock worth $319,806 over the last quarter. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in NBTB. Vanguard Group Inc. lifted its position in NBT Bancorp by 8.8% during the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after buying an additional 445,814 shares in the last quarter. Norges Bank purchased a new position in NBT Bancorp during the fourth quarter worth approximately $14,842,000. BlackRock Inc. lifted its position in NBT Bancorp by 5.5% during the first quarter. BlackRock Inc. now owns 6,325,091 shares of the bank’s stock worth $213,219,000 after buying an additional 327,040 shares in the last quarter. Hsbc Holdings PLC purchased a new position in NBT Bancorp during the fourth quarter worth approximately $11,434,000. Finally, Goldman Sachs Group Inc. lifted its position in NBT Bancorp by 136.0% during the second quarter. Goldman Sachs Group Inc. now owns 436,135 shares of the bank’s stock worth $16,394,000 after buying an additional 251,323 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Up 4.0 %

Shares of NASDAQ NBTB opened at $34.61 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $1.63 billion, a P/E ratio of 13.01 and a beta of 0.51. NBT Bancorp has a 1-year low of $27.52 and a 1-year high of $43.77. The business has a fifty day moving average price of $34.73 and a 200 day moving average price of $36.19.

NBT Bancorp (NASDAQ:NBTBGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.02). The company had revenue of $137.66 million for the quarter, compared to analysts’ expectations of $138.87 million. NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. Equities research analysts expect that NBT Bancorp will post 2.89 EPS for the current fiscal year.

About NBT Bancorp

(Get Free Report

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.

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