Beacon Pointe Advisors LLC Buys 394 Shares of NBT Bancorp Inc. (NASDAQ:NBTB)

Beacon Pointe Advisors LLC increased its stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,103 shares of the bank’s stock after acquiring an additional 394 shares during the period. Beacon Pointe Advisors LLC’s holdings in NBT Bancorp were worth $759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in NBT Bancorp by 69.9% during the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after acquiring an additional 276 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in NBT Bancorp during the third quarter worth approximately $27,000. Asset Dedication LLC acquired a new position in NBT Bancorp during the third quarter worth approximately $37,000. Bare Financial Services Inc acquired a new position in NBT Bancorp during the fourth quarter worth approximately $98,000. Finally, Naples Money Management LLC acquired a new position in NBT Bancorp during the fourth quarter worth approximately $156,000. Institutional investors own 58.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NBTB shares. Stephens reissued an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price target on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler lowered their price target 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. Finally, Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.20.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $38.08 on Thursday. NBT Bancorp Inc. has a 12 month low of $30.31 and a 12 month high of $43.77. The stock’s 50 day moving average is $35.71 and its 200-day moving average is $36.79. 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 company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.70 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. The company had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. Equities research analysts expect that NBT Bancorp Inc. will post 2.82 EPS for the current 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.