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

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have received an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $49.50.

NBTB has been the topic of a number of recent analyst reports. Janney Montgomery Scott lowered NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. Brean Capital lowered NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Hovde Group dropped their price target on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a report on Monday, April 27th. Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Piper Sandler initiated coverage on NBT Bancorp in a report on Monday, March 16th. They set an “overweight” rating and a $50.00 price target on the stock.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $46.09 on Thursday. The business’s fifty day simple moving average is $44.13 and its 200 day simple moving average is $43.43. The firm has a market capitalization of $2.40 billion, a P/E ratio of 13.13 and a beta of 0.47. NBT Bancorp has a 12 month low of $39.19 and a 12 month high of $46.92. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last issued 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). The business had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.36 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. As a group, analysts anticipate that NBT Bancorp will post 4.15 EPS for the current year.

NBT Bancorp Announces Dividend

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

Institutional Trading of NBT Bancorp

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 buying an additional 609 shares during the period. Larson Financial Group LLC raised its stake in shares of 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 during the period. Bessemer Group Inc. raised its stake in shares of NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after buying an additional 324 shares during the period. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp in the first quarter valued at $37,000. Finally, Global Retirement Partners LLC raised its stake in shares of NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock valued at $43,000 after buying an additional 399 shares during the period. 58.46% of the stock is currently owned by institutional investors.

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.