NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $51.25.

NBTB has been the topic of several analyst reports. Piper Sandler set a $47.00 price target on NBT Bancorp and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd.

Insider Buying and Selling at NBT Bancorp

In related news, Director Timothy E. Delaney purchased 10,000 shares of NBT Bancorp stock in a transaction dated Thursday, November 6th. The shares were acquired at an average cost of $40.98 per share, with a total value of $409,800.00. Following the purchase, the director owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. The trade was a 23.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

A number of hedge funds have recently made changes to their positions in NBTB. State Street Corp raised its position in NBT Bancorp by 7.8% in the second quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock valued at $105,177,000 after purchasing an additional 182,793 shares during the period. Geode Capital Management LLC grew its stake in shares of NBT Bancorp by 10.8% in the second quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock valued at $53,971,000 after buying an additional 126,718 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of NBT Bancorp by 1.1% in the third quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank’s stock valued at $27,149,000 after buying an additional 7,253 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of NBT Bancorp by 3.6% in the 1st quarter. Raymond James Financial Inc. now owns 513,243 shares of the bank’s stock valued at $22,018,000 after buying an additional 18,035 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in NBT Bancorp by 63.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock worth $18,741,000 after acquiring an additional 174,639 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Trading Up 1.7%

Shares of NBT Bancorp stock opened at $42.24 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $41.07 and its 200-day simple moving average is $42.00. The stock has a market cap of $2.21 billion, a P/E ratio of 14.08 and a beta of 0.51. NBT Bancorp has a 1-year low of $37.31 and a 1-year high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The firm had revenue of $186.07 million for the quarter, compared to the consensus estimate of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. Analysts predict that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. NBT Bancorp’s dividend payout ratio is presently 49.33%.

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.