NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat.com reports. Three equities research 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 12-month price objective among brokers that have issued a report on the stock in the last year is $48.17.

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research report on Thursday. Stephens restated an "equal weight" rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, DA Davidson assumed coverage on NBT Bancorp in a report on Thursday, December 12th. They issued a "neutral" rating and a $60.00 price target on the stock.

NBT Bancorp Trading Down 0.4 %

NASDAQ NBTB traded down $0.19 during trading hours on Thursday, hitting $48.27. 314,954 shares of the company were exchanged, compared to its average volume of 208,308. NBT Bancorp has a 52 week low of $32.79 and a 52 week high of $52.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $48.20 and a 200 day moving average price of $44.83. The stock has a market cap of $2.28 billion, a PE ratio of 17.00 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the previous year, the company posted $0.84 EPS. Analysts forecast that NBT Bancorp will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Monday, December 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 47.89%.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney sold 40,000 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares of the company's stock, valued at approximately $1,999,763.91. This trade represents a 50.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Amy Wiles sold 1,000 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $50.10, for a total transaction of $50,100.00. Following the completion of the sale, the executive vice president now owns 27,909 shares of the company's stock, valued at approximately $1,398,240.90. This represents a 3.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 81,694 shares of company stock worth $4,048,185. Company insiders own 3.32% of the company's stock.

Hedge Funds Weigh In On NBT Bancorp

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in NBT Bancorp by 540.2% during the 2nd quarter. Victory Capital Management Inc. now owns 703,286 shares of the bank's stock valued at $27,147,000 after acquiring an additional 593,436 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NBT Bancorp by 36.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 629,715 shares of the bank's stock worth $24,307,000 after purchasing an additional 169,180 shares during the last quarter. Eagle Asset Management Inc. boosted its position in NBT Bancorp by 76.3% during the third quarter. Eagle Asset Management Inc. now owns 378,898 shares of the bank's stock valued at $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in NBT Bancorp by 14.9% in the second quarter. Deprince Race & Zollo Inc. now owns 828,440 shares of the bank's stock valued at $31,978,000 after purchasing an additional 107,404 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in NBT Bancorp by 40.9% in the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank's stock worth $13,680,000 after purchasing an additional 89,800 shares in the last quarter. 58.46% of the stock is owned by hedge funds and other institutional investors.

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.