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

Equities research analysts at Hovde Group began coverage on shares of NBT Bancorp (NASDAQ:NBTB - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage set a "market perform" rating and a $50.00 price target on the bank's stock. Hovde Group's target price would suggest a potential upside of 15.42% from the company's current price.

Several other equities analysts also recently weighed in on NBTB. DA Davidson assumed coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a "neutral" rating and a $60.00 target price on the stock. Keefe, Bruyette & Woods raised their target price on shares of NBT Bancorp from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target for the company in a research report on Wednesday, January 29th. Finally, StockNews.com lowered shares of NBT Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $54.50.

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NBT Bancorp Trading Up 1.2 %

Shares of NASDAQ NBTB traded up $0.52 during midday trading on Friday, reaching $43.32. 45,773 shares of the stock were exchanged, compared to its average volume of 207,184. The stock has a 50 day moving average price of $46.54 and a 200-day moving average price of $46.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.05 billion, a P/E ratio of 14.64 and a beta of 0.48. NBT Bancorp has a 52-week low of $32.93 and a 52-week high of $52.44.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its earnings results on Monday, January 27th. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). NBT Bancorp had a return on equity of 9.39% and a net margin of 17.84%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities research analysts expect that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

Insider Activity at NBT Bancorp

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

Institutional Trading of NBT Bancorp

Hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in NBT Bancorp by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock valued at $230,000 after purchasing an additional 310 shares in the last quarter. Bank of Montreal Can grew its stake in shares of NBT Bancorp by 6.8% during the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock valued at $348,000 after acquiring an additional 461 shares in the last quarter. GAMMA Investing LLC increased 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 worth $62,000 after acquiring an additional 517 shares during the last quarter. US Bancorp DE increased its position in shares of NBT Bancorp by 42.0% during the fourth 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. Finally, Smartleaf Asset Management LLC lifted its stake in shares of NBT Bancorp by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,755 shares of the bank's stock worth $132,000 after acquiring an additional 597 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.