NBT Bancorp Inc. (NBTB) Given Average Rating of “Hold” by Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.88.

A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $40.50 target price on shares of NBT Bancorp in a research note on Monday, February 5th. Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a research note on Wednesday, January 24th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, October 26th. Finally, Sandler O’Neill set a $38.00 target price on shares of NBT Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd.

In other news, Director Robert A. Wadsworth sold 1,625 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $37.20, for a total transaction of $60,450.00. Following the completion of the sale, the director now owns 16,194 shares of the company’s stock, valued at $602,416.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael J. Chewens sold 4,190 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total transaction of $160,937.90. Following the sale, the chief financial officer now directly owns 59,443 shares of the company’s stock, valued at approximately $2,283,205.63. The disclosure for this sale can be found here. 3.07% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of NBT Bancorp by 1.1% during the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after acquiring an additional 66 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of NBT Bancorp by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 33,198 shares of the bank’s stock worth $1,227,000 after acquiring an additional 440 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of NBT Bancorp by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 242,496 shares of the bank’s stock worth $8,960,000 after acquiring an additional 626 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of NBT Bancorp by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 129,903 shares of the bank’s stock worth $4,800,000 after acquiring an additional 993 shares in the last quarter. Finally, Alpha Windward LLC increased its position in shares of NBT Bancorp by 12.0% during the third quarter. Alpha Windward LLC now owns 14,040 shares of the bank’s stock worth $516,000 after acquiring an additional 1,500 shares in the last quarter. 49.75% of the stock is owned by institutional investors.

NBT Bancorp (NASDAQ:NBTB) traded up $0.79 on Friday, hitting $35.79. 161,352 shares of the company were exchanged, compared to its average volume of 109,053. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.83 and a current ratio of 0.85. The company has a market capitalization of $1,523.82, a P/E ratio of 19.14 and a beta of 0.86. NBT Bancorp has a twelve month low of $31.28 and a twelve month high of $42.28.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.03). The business had revenue of $104.92 million for the quarter, compared to the consensus estimate of $103.52 million. NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. During the same period last year, the firm earned $0.45 earnings per share. equities analysts anticipate that NBT Bancorp will post 2.3 earnings per share for the current fiscal year.

NBT Bancorp announced that its Board of Directors has approved a stock buyback plan on Monday, October 23rd that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, February 28th. NBT Bancorp’s payout ratio is presently 49.20%.

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NBT Bancorp Company Profile

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.

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