NBT Bancorp Inc. (NASDAQ:NBTB) Receives $51.50 Average Target Price from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $51.50.

NBTB has been the topic of several recent research reports. Weiss Ratings raised shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. DA Davidson reiterated a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a research note on Monday, April 27th. Piper Sandler increased their price target on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Finally, Hovde Group cut their target price on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th.

NBT Bancorp Trading Down 0.5%

Shares of NBT Bancorp stock opened at $52.08 on Friday. The firm has a 50-day moving average of $47.91 and a 200-day moving average of $45.22. The stock has a market cap of $2.71 billion, a PE ratio of 14.84 and a beta of 0.48. NBT Bancorp has a 52-week low of $39.19 and a 52-week high of $53.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 EPS 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 business had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.35 million. As a group, sell-side analysts forecast that NBT Bancorp will post 4.14 EPS for the current year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp’s payout ratio is 42.17%.

Insider Activity

In related news, Director Heidi M. Hoeller sold 2,100 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the completion of the sale, the director owned 11,560 shares of the company’s stock, valued at $555,226.80. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ruth H. Mahoney sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $46.60, for a total transaction of $233,000.00. Following the completion of the transaction, the executive vice president owned 16,428 shares of the company’s stock, valued at $765,544.80. The trade was a 23.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.99% of the company’s stock.

Institutional Trading of NBT Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its position in NBT Bancorp by 1,645.9% in the second quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after acquiring an additional 609 shares during the last quarter. Larson Financial Group LLC boosted its position in NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after buying an additional 799 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of NBT Bancorp by 63.8% during the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after buying an additional 324 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp during the first quarter worth $37,000. Finally, Global Retirement Partners LLC increased its holdings in shares of NBT Bancorp by 62.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after buying an additional 399 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors.

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.