Keefe, Bruyette & Woods Lowers NBT Bancorp (NASDAQ:NBTB) Price Target to $39.00

NBT Bancorp (NASDAQ:NBTB) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 9.12% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Piper Sandler dropped their target price on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of NBT Bancorp in a report on Tuesday. Raymond James raised their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

NBT Bancorp Trading Down 0.4 %

NASDAQ NBTB opened at $35.74 on Wednesday. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77. The company has a fifty day simple moving average of $34.79 and a two-hundred day simple moving average of $36.23. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.69 billion, a P/E ratio of 13.80 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 analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. During the same quarter last year, the business posted $0.88 EPS. On average, analysts forecast that NBT Bancorp will post 2.85 earnings per share for the current year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction 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 of the company’s stock, valued at $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.32% of the stock is owned by company insiders.

Institutional Trading of NBT Bancorp

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in NBT Bancorp in the 3rd quarter valued at $498,000. State of Alaska Department of Revenue increased its stake in shares of NBT Bancorp by 4.2% during the third quarter. State of Alaska Department of Revenue now owns 29,406 shares of the bank’s stock worth $931,000 after purchasing an additional 1,176 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of NBT Bancorp by 8.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 126,564 shares of the bank’s stock worth $4,011,000 after purchasing an additional 9,901 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in NBT Bancorp by 4.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 17,396 shares of the bank’s stock valued at $551,000 after buying an additional 681 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in NBT Bancorp by 9.4% in the 3rd quarter. Raymond James & Associates now owns 72,460 shares of the bank’s stock worth $2,296,000 after buying an additional 6,197 shares during the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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.