NBT Bancorp Inc. (NASDAQ:NBTB) Receives $42.60 Average Price Target from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has been given an average recommendation of "Hold" by the five brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $42.60.

A number of analysts have recently issued reports on NBTB shares. Stephens reaffirmed an "equal weight" rating and issued a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. StockNews.com raised NBT Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, October 30th.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney sold 40,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the sale, the director now directly owns 38,853 shares in the company, valued at approximately $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director V Daniel Robinson II sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the sale, the director now directly owns 517,558 shares in the company, valued at $22,824,307.80. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 172,556 shares of company stock valued at $8,039,690 in the last ninety days. 3.32% of the stock is currently owned by corporate insiders.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently modified their holdings of NBTB. GAMMA Investing LLC boosted its position in shares of NBT Bancorp by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 778 shares of the bank's stock worth $34,000 after acquiring an additional 252 shares in the last quarter. US Bancorp DE acquired a new stake in shares of NBT Bancorp in the 3rd quarter valued at $57,000. Quest Partners LLC bought a new position in shares of NBT Bancorp in the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NBT Bancorp during the 3rd quarter worth $103,000. Finally, AQR Capital Management LLC bought a new stake in shares of NBT Bancorp during the 2nd quarter worth $214,000. 58.46% of the stock is currently owned by institutional investors.

NBT Bancorp Stock Up 2.3 %

NBTB traded up $1.12 during trading on Friday, reaching $50.45. 165,294 shares of the stock were exchanged, compared to its average volume of 217,422. The stock has a market cap of $2.38 billion, a P/E ratio of 17.76 and a beta of 0.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock's 50 day moving average price is $45.81 and its two-hundred day moving average price is $43.17. NBT Bancorp has a twelve month low of $32.79 and a twelve month high of $51.93.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. The company had revenue of $202.00 million for the quarter, compared to analyst estimates of $144.70 million. During the same period in the previous year, the business earned $0.84 EPS. Equities analysts expect that NBT Bancorp will post 2.91 EPS for the current year.

NBT Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.36 annualized dividend and a yield of 2.70%. NBT Bancorp's dividend payout ratio (DPR) is presently 47.89%.

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.