NBT Bancorp Inc. (NASDAQ:NBTB) Given Average Recommendation of “Moderate Buy” by Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $41.20.

Several research analysts have recently weighed in on NBTB shares. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, March 21st. Piper Sandler reduced their price target on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of NBT Bancorp in a report on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their target price on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th.

Institutional Investors Weigh In On NBT Bancorp

Several large investors have recently made changes to their positions in NBTB. Commonwealth Equity Services LLC lifted its stake in NBT Bancorp by 8.5% in the third quarter. Commonwealth Equity Services LLC now owns 126,564 shares of the bank’s stock valued at $4,011,000 after acquiring an additional 9,901 shares during the last quarter. Raymond James & Associates lifted its stake in NBT Bancorp by 9.4% in the 3rd quarter. Raymond James & Associates now owns 72,460 shares of the bank’s stock valued at $2,296,000 after purchasing an additional 6,197 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NBT Bancorp by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 513,545 shares of the bank’s stock worth $16,274,000 after purchasing an additional 31,876 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NBT Bancorp by 22.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,099 shares of the bank’s stock worth $320,000 after buying an additional 1,866 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in NBT Bancorp by 38.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,274 shares of the bank’s stock valued at $801,000 after buying an additional 7,000 shares during the period. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Stock Performance

Shares of NBTB stock opened at $37.70 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. NBT Bancorp has a 52 week low of $30.31 and a 52 week high of $43.77. The company’s 50 day moving average price is $35.22 and its two-hundred day moving average price is $36.48. The company has a market capitalization of $1.78 billion, a P/E ratio of 14.56 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same period last year, the business posted $0.88 earnings per share. On average, analysts expect that NBT Bancorp will post 2.82 earnings per share for the current fiscal year.

About NBT Bancorp

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.