Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Target Price at $54.50

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.50.

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. Stephens upgraded NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target on the stock in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their price objective on NBT Bancorp from $50.00 to $55.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. DA Davidson initiated coverage on NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 target price on the stock. Finally, Hovde Group initiated coverage on NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 price target for the company.

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NBT Bancorp Trading Up 0.2 %

NBTB traded up $0.07 during mid-day trading on Friday, reaching $42.75. The stock had a trading volume of 50,699 shares, compared to its average volume of 210,803. The firm's fifty day simple moving average is $45.97 and its two-hundred day simple moving average is $46.77. The stock has a market capitalization of $2.02 billion, a P/E ratio of 14.44 and a beta of 0.53. NBT Bancorp has a 52 week low of $32.93 and a 52 week high of $52.44. 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 (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period in the prior year, the firm posted $0.72 earnings per share. On average, equities analysts predict that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.34 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 3.18%. NBT Bancorp's dividend payout ratio is presently 45.95%.

Insiders Place Their Bets

In related news, Director Heidi M. Hoeller acquired 678 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $48.45 per share, with a total value of $32,849.10. Following the transaction, the director now owns 6,437 shares of the company's stock, valued at $311,872.65. The trade was a 11.77 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sarah A. Halliday sold 5,000 shares of NBT Bancorp stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the sale, the executive vice president now directly owns 25,564 shares in the company, valued at approximately $1,238,575.80. This represents a 16.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBTB. Quest Partners LLC bought a new position in shares of NBT Bancorp in the 3rd quarter valued at about $57,000. GAMMA Investing LLC grew its position in shares of NBT Bancorp by 66.5% in the 4th quarter. GAMMA Investing LLC now owns 1,295 shares of the bank's stock valued at $62,000 after acquiring an additional 517 shares during the period. Sterling Capital Management LLC increased its position in NBT Bancorp by 817.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,450 shares of the bank's stock worth $69,000 after buying an additional 1,292 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of NBT Bancorp during the 4th quarter worth approximately $87,000. Finally, US Bancorp DE increased its holdings in shares of NBT Bancorp by 42.0% during the 4th quarter. US Bancorp DE now owns 1,836 shares of the bank's stock worth $88,000 after acquiring an additional 543 shares during the last quarter. 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.