NBT Bancorp (NASDAQ:NBTB) Reaches New 52-Week High – Still a Buy?

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) reached a new 52-week high during trading on Friday . The company traded as high as $46.93 and last traded at $46.6640, with a volume of 79411 shares trading hands. The stock had previously closed at $46.43.

Analysts Set New Price Targets

NBTB has been the subject of a number of analyst reports. Piper Sandler began coverage on NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 price target for the company. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Hovde Group decreased their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research note on Monday, April 27th. Janney Montgomery Scott cut shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, February 23rd. Finally, Brean Capital cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.50.

NBT Bancorp Trading Down 0.0%

The business’s 50 day simple moving average is $44.78 and its two-hundred day simple moving average is $43.65. The stock has a market cap of $2.41 billion, a P/E ratio of 13.22 and a beta of 0.49. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. As a group, analysts expect that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. NBT Bancorp’s payout ratio is currently 42.17%.

Institutional Trading of NBT Bancorp

Several institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in NBT Bancorp during the third quarter valued at $4,886,000. SG Americas Securities LLC boosted its position in NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock valued at $2,983,000 after acquiring an additional 47,550 shares during the last quarter. JPMorgan Chase & Co. boosted its position in NBT Bancorp by 26.7% during the third quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock valued at $13,986,000 after acquiring an additional 70,594 shares during the last quarter. Savant Capital LLC boosted its position in NBT Bancorp by 168.4% during the third quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock valued at $2,967,000 after acquiring an additional 44,585 shares during the last quarter. Finally, Financial Planning Hawaii Inc. bought a new stake in NBT Bancorp during the fourth quarter valued at $641,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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.