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

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $51.3333.

Several equities analysts have recently issued reports on the stock. Janney Montgomery Scott downgraded shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Piper Sandler began coverage on shares of NBT Bancorp in a report on Monday. They issued an “overweight” rating and a $50.00 price objective on the stock. Brean Capital downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 23rd. Finally, DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Wednesday, February 25th. They issued a “buy” rating and a $54.00 target price for the company.

Insider Buying and Selling

In other NBT Bancorp news, Director Timothy E. Delaney bought 22,730 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were purchased at an average cost of $42.97 per share, for a total transaction of $976,708.10. Following the transaction, the director directly owned 74,615 shares in the company, valued at $3,206,206.55. The trade was a 43.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy Wiles sold 4,435 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $45.72, for a total value of $202,768.20. Following the transaction, the executive vice president owned 21,500 shares of the company’s stock, valued at $982,980. This trade represents a 17.10% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.03% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in NBT Bancorp by 1,645.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after buying an additional 609 shares during the period. Larson Financial Group LLC raised its position in shares of NBT Bancorp by 13,316.7% during the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after buying an additional 799 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of NBT Bancorp in the 3rd quarter worth approximately $42,000. Global Retirement Partners LLC lifted its stake in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after acquiring an additional 399 shares during the period. Finally, Allworth Financial LP bought a new position in shares of NBT Bancorp in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Trading Down 1.7%

Shares of NASDAQ NBTB opened at $40.62 on Friday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 12.31 and a beta of 0.50. NBT Bancorp has a 12-month low of $37.31 and a 12-month high of $46.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock’s 50 day simple moving average is $43.77 and its 200 day simple moving average is $42.62.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%.The firm had revenue of $185.14 million during the quarter, compared to the consensus estimate of $183.63 million. Equities research analysts expect that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a dividend of $0.37 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. NBT Bancorp’s payout ratio is currently 44.85%.

About NBT Bancorp

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.