NBT Bancorp (NASDAQ:NBTB) Coverage Initiated by Analysts at Hovde Group

Analysts at Hovde Group began coverage on shares of NBT Bancorp (NASDAQ:NBTB) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “market perform” rating and a $50.00 price target on the bank’s stock. Hovde Group’s price objective indicates a potential upside of 15.77% from the stock’s previous close.

NBTB has been the topic of a number of other research reports. StockNews.com cut shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. DA Davidson began coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of “Hold” and a consensus price target of $51.40.

NBT Bancorp Stock Performance

NASDAQ:NBTB opened at $43.19 on Friday. NBT Bancorp has a twelve month low of $32.93 and a twelve month high of $52.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $46.59 and its 200 day simple moving average is $46.92. The firm has a market capitalization of $2.04 billion, a PE ratio of 14.59 and a beta of 0.48.

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

Insider Buying and Selling

In other NBT Bancorp news, EVP Sarah A. Halliday sold 5,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $48.45, for a total transaction of $242,250.00. Following the sale, the executive vice president now owns 25,564 shares of the company’s stock, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Heidi M. Hoeller purchased 678 shares of the business’s stock in a transaction on Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the transaction, the director now directly owns 6,437 shares of the company’s stock, valued at approximately $311,872.65. The trade was a 11.77 % increase in their position. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently bought and sold shares of the company. Leigh Baldwin & CO. LLC bought a new stake in NBT Bancorp during the fourth quarter valued at $1,168,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NBT Bancorp by 13.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,895 shares of the bank’s stock valued at $6,825,000 after acquiring an additional 17,225 shares during the last quarter. Voloridge Investment Management LLC boosted its position in NBT Bancorp by 48.0% during the fourth quarter. Voloridge Investment Management LLC now owns 36,179 shares of the bank’s stock valued at $1,728,000 after acquiring an additional 11,730 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in NBT Bancorp during the fourth quarter valued at $38,978,000. Finally, ProShare Advisors LLC boosted its position in NBT Bancorp by 4.7% during the fourth quarter. ProShare Advisors LLC now owns 167,503 shares of the bank’s stock valued at $8,000,000 after acquiring an additional 7,500 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

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.