NBT Bancorp (NASDAQ:NBTB) Now Covered by Hovde Group

Stock analysts at Hovde Group started coverage on shares of NBT Bancorp (NASDAQ:NBTB - Get Free Report) in a note issued to investors on Friday, Marketbeat.com reports. The firm set a "market perform" rating and a $50.00 price target on the bank's stock. Hovde Group's price target points to a potential upside of 13.84% from the company's current price.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods increased their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, January 16th. Stephens upgraded shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 target price for the company in a research report on Wednesday, January 29th. Finally, DA Davidson assumed coverage on shares of NBT Bancorp in a report on Thursday, December 12th. They set a "neutral" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.50.

NBT Bancorp Stock Performance

NASDAQ NBTB traded up $0.15 during trading on Friday, reaching $43.92. The company's stock had a trading volume of 239,581 shares, compared to its average volume of 207,736. The firm has a 50 day moving average price of $46.50 and a 200 day moving average price of $46.84. NBT Bancorp has a 12 month low of $32.93 and a 12 month high of $52.44. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 14.84 and a beta of 0.48. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The bank reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter last year, the company earned $0.72 earnings per share. As a group, equities analysts anticipate that NBT Bancorp will post 3.69 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 5,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $48.45, for a total value of $242,250.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Heidi M. Hoeller acquired 678 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were purchased at an average cost of $48.45 per share, for a total transaction of $32,849.10. Following the acquisition, the director now owns 6,437 shares in the company, valued at $311,872.65. This represents a 11.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NBT Bancorp

Several large investors have recently bought and sold shares of NBTB. Quest Partners LLC acquired a new position in shares of NBT Bancorp in the third quarter valued at approximately $57,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in NBT Bancorp during the 3rd quarter worth approximately $342,000. Intech Investment Management LLC acquired a new position in NBT Bancorp in the 3rd quarter valued at approximately $365,000. Landscape Capital Management L.L.C. bought a new position in shares of NBT Bancorp during the third quarter valued at $439,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NBT Bancorp by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 585,636 shares of the bank's stock worth $25,903,000 after purchasing an additional 7,294 shares during the period. 58.46% of the stock is currently owned by 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.