Analysts Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $48.80

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $48.80.

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. StockNews.com lowered NBT Bancorp from a "hold" rating to a "sell" rating in a report on Tuesday, January 7th. Finally, DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price target on the stock.

NBT Bancorp Stock Up 1.3 %

NASDAQ NBTB traded up $0.58 during trading on Monday, reaching $45.78. 146,625 shares of the company's stock were exchanged, compared to its average volume of 175,532. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The company has a 50 day moving average price of $49.10 and a two-hundred day moving average price of $46.28. The stock has a market cap of $2.16 billion, a P/E ratio of 16.12 and a beta of 0.53.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned $0.84 earnings per share. On average, equities research analysts anticipate that NBT Bancorp will post 2.94 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Monday, December 2nd. NBT Bancorp's dividend payout ratio (DPR) is presently 47.89%.

Insider Activity

In other news, EVP Amy Wiles sold 1,000 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $50.10, for a total value of $50,100.00. Following the completion of the sale, the executive vice president now owns 27,909 shares in the company, valued at $1,398,240.90. This represents a 3.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack H. Webb sold 10,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares of the company's stock, valued at $2,253,601.08. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,694 shares of company stock valued at $4,048,185. 3.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NBT Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in NBT Bancorp by 55.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 224,874 shares of the bank's stock valued at $9,946,000 after purchasing an additional 80,232 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of NBT Bancorp by 66.5% during the fourth quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock valued at $62,000 after purchasing an additional 517 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of NBT Bancorp by 68.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,582 shares of the bank's stock worth $4,095,000 after acquiring an additional 37,469 shares in the last quarter. Fidelity D & D Bancorp Inc. bought a new stake in shares of NBT Bancorp in the 3rd quarter worth approximately $218,000. Finally, Franklin Resources Inc. increased its holdings in shares of NBT Bancorp by 472.1% during the third quarter. Franklin Resources Inc. now owns 74,468 shares of the bank's stock valued at $3,379,000 after acquiring an additional 61,451 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company's stock.

NBT Bancorp Company Profile

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.