NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Rating of “Hold” from Analysts
NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.88.
NBTB has been the subject of several analyst reports. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, April 27th. Finally, Piper Jaffray Companies raised shares of NBT Bancorp from an “underweight” rating to a “neutral” rating and set a $35.50 price target for the company in a report on Thursday, June 8th.
Shares of NBT Bancorp (NBTB) traded up 0.22% during trading on Tuesday, hitting $36.81. The company had a trading volume of 129,417 shares. The stock’s 50-day moving average is $37.00 and its 200 day moving average is $38.43. NBT Bancorp has a 52-week low of $29.23 and a 52-week high of $42.56. The firm has a market capitalization of $1.60 billion, a P/E ratio of 20.11 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $99.93 million during the quarter, compared to analysts’ expectations of $100.91 million. NBT Bancorp had a net margin of 19.58% and a return on equity of 8.75%. During the same period in the prior year, the company posted $0.46 earnings per share. Equities research analysts predict that NBT Bancorp will post $1.95 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.23 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 dividend on an annualized basis and a yield of 2.50%. NBT Bancorp’s dividend payout ratio (DPR) is presently 50.27%.
In other NBT Bancorp news, Director John C. Mitchell sold 1,438 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $35.48, for a total value of $51,020.24. Following the completion of the transaction, the director now directly owns 32,781 shares of the company’s stock, valued at $1,163,069.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John C. Mitchell sold 1,570 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total transaction of $56,943.90. Following the completion of the transaction, the director now directly owns 34,219 shares of the company’s stock, valued at $1,241,123.13. The disclosure for this sale can be found here. Company insiders own 2.83% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of NBT Bancorp during the fourth quarter worth about $239,000. Norges Bank bought a new position in shares of NBT Bancorp during the fourth quarter worth about $20,182,000. Guggenheim Capital LLC boosted its position in shares of NBT Bancorp by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 63,028 shares of the bank’s stock worth $2,640,000 after buying an additional 8,550 shares during the period. Ameriprise Financial Inc. boosted its position in shares of NBT Bancorp by 6.0% in the first quarter. Ameriprise Financial Inc. now owns 241,870 shares of the bank’s stock worth $8,966,000 after buying an additional 13,761 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of NBT Bancorp by 28.9% in the first quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock worth $29,534,000 after buying an additional 178,423 shares during the period. 49.87% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION WARNING: “NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Rating of “Hold” from Analysts” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/07/25/nbt-bancorp-inc-nasdaqnbtb-receives-consensus-rating-of-hold-from-analysts.html.
About NBT Bancorp
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
Receive News & Ratings for NBT Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NBT Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.