Stephens Reaffirms “Overweight” Rating for NBT Bancorp (NASDAQ:NBTB)

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “overweight” rating restated by Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $42.00 price objective on the bank’s stock. Stephens’ price objective points to a potential upside of 15.70% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods cut their price objective on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Raymond James raised their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 5th. Piper Sandler lowered their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.60.

NBT Bancorp Stock Up 4.3 %

Shares of NASDAQ:NBTB traded up $1.51 during trading on Tuesday, reaching $36.30. 47,961 shares of the stock traded hands, compared to its average volume of 206,617. The stock has a 50-day moving average of $34.72 and a two-hundred day moving average of $36.21. NBT Bancorp has a 52-week low of $27.52 and a 52-week high of $43.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $1.71 billion, a P/E ratio of 13.64 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. During the same period in the previous year, the company earned $0.88 EPS. As a group, sell-side analysts expect that NBT Bancorp will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at NBT Bancorp

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

Hedge Funds Weigh In On NBT Bancorp

Several hedge funds have recently added to or reduced their stakes in NBTB. Longfellow Investment Management Co. LLC acquired a new position in shares of NBT Bancorp in the third quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new stake in NBT Bancorp during the first quarter worth approximately $27,000. Blue Trust Inc. boosted its stake in shares of NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after purchasing an additional 276 shares during the period. Asset Dedication LLC purchased a new position in shares of NBT Bancorp in the third quarter valued at $37,000. Finally, Bare Financial Services Inc acquired a new stake in NBT Bancorp in the fourth quarter valued at $98,000. 58.46% of the stock is currently owned by hedge funds and other institutional investors.

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.