NBT Bancorp (NASDAQ:NBTB) Hits New 12-Month High - Should You Buy?

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $52.39 and last traded at $52.33, with a volume of 292958 shares trading hands. The stock had previously closed at $51.66.

Wall Street Analyst Weigh In

NBTB has been the subject of several recent analyst reports. Stephens restated an "equal weight" rating and set a $49.00 price objective on shares of NBT Bancorp in a research report on Tuesday, September 10th. DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Thursday. They issued a "neutral" rating and a $60.00 price target for the company. Keefe, Bruyette & Woods upped their price objective 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. Finally, StockNews.com upgraded NBT Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.17.

NBT Bancorp Trading Up 1.3 %

The company has a 50 day simple moving average of $47.67 and a 200 day simple moving average of $44.57. The stock has a market capitalization of $2.47 billion, a PE ratio of 18.32 and a beta of 0.52. 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 issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $202.00 million during 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 last year, the company earned $0.84 earnings per share. Analysts predict that NBT Bancorp Inc. will post 2.94 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Monday, December 2nd. NBT Bancorp's payout ratio is 47.89%.

Insider Buying and Selling

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of the business's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now directly owns 143,101 shares in the company, valued at approximately $6,503,940.45. The trade was a 12.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amy Wiles sold 500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $51.31, for a total transaction of $25,655.00. Following the completion of the transaction, the executive vice president now owns 27,409 shares of the company's stock, valued at $1,406,355.79. This represents a 1.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 81,694 shares of company stock valued at $4,048,185 over the last ninety days. Corporate insiders own 3.32% of the company's stock.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in NBTB. Victory Capital Management Inc. lifted its position in shares of 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 during the period. Bank of New York Mellon Corp raised its holdings in NBT Bancorp by 36.7% during the second 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 worth $16,759,000 after purchasing an additional 163,952 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings 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 increased its position in shares of NBT Bancorp by 40.9% in the third quarter. Ceredex Value Advisors LLC now owns 309,300 shares of the bank's stock valued at $13,680,000 after buying an additional 89,800 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.

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