NBT Bancorp Inc. (NASDAQ:NBTB)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Friday. They presently have a $35.50 price objective on the bank’s stock. Piper Jaffray Companies’ price objective would suggest a potential downside of 3.30% from the stock’s current price.
A number of other research analysts have also commented on NBTB. BidaskClub lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $34.25.
NBT Bancorp (NASDAQ:NBTB) opened at 36.71 on Friday. NBT Bancorp has a 52-week low of $29.23 and a 52-week high of $42.56. The firm’s 50-day moving average is $36.76 and its 200 day moving average is $39.01. The firm has a market capitalization of $1.59 billion, a P/E ratio of 20.06 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, April 24th. The bank reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $97.20 million for the quarter, compared to analyst estimates of $97.54 million. NBT Bancorp had a net margin of 19.58% and a return on equity of 8.75%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Equities analysts anticipate that NBT Bancorp will post $1.95 EPS for the current year.
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In other news, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total transaction of $56,943.90. Following the completion of the sale, the director now owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the sale, the director now directly owns 32,781 shares of the company’s stock, valued at approximately $1,163,069.88. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Miles Capital Inc. increased its stake in shares of NBT Bancorp by 0.3% in the first quarter. Miles Capital Inc. now owns 6,953 shares of the bank’s stock worth $258,000 after buying an additional 19 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of NBT Bancorp by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 9,860 shares of the bank’s stock worth $366,000 after buying an additional 90 shares during the period. State of Alaska Department of Revenue increased its stake in shares of NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares during the period. Wells Fargo & Company MN increased its stake in shares of NBT Bancorp by 0.6% in the first quarter. Wells Fargo & Company MN now owns 40,684 shares of the bank’s stock worth $1,508,000 after buying an additional 225 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of NBT Bancorp by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the bank’s stock worth $656,000 after buying an additional 400 shares during the period. 49.84% of the stock is owned by institutional investors.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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