NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Recommendation of “Hold” by Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $52.00.

NBTB has been the topic of several recent research reports. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. DA Davidson cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a report on Wednesday, October 8th.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director David J. Nasca sold 19,603 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.42, for a total value of $851,162.26. Following the completion of the transaction, the director directly owned 82,910 shares in the company, valued at $3,599,952.20. This trade represents a 19.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 3.03% of the stock is currently owned by insiders.

Institutional Trading of NBT Bancorp

Several institutional investors have recently made changes to their positions in NBTB. TD Private Client Wealth LLC lifted its position in NBT Bancorp by 51.3% during the 1st quarter. TD Private Client Wealth LLC now owns 867 shares of the bank’s stock worth $37,000 after buying an additional 294 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in NBT Bancorp by 7.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,150 shares of the bank’s stock valued at $214,000 after purchasing an additional 335 shares during the period. Asset Dedication LLC lifted its position in NBT Bancorp by 6.1% during the 2nd quarter. Asset Dedication LLC now owns 7,042 shares of the bank’s stock valued at $293,000 after purchasing an additional 402 shares during the period. Stablepoint Partners LLC lifted its position in NBT Bancorp by 4.9% during the 2nd quarter. Stablepoint Partners LLC now owns 10,582 shares of the bank’s stock valued at $440,000 after purchasing an additional 495 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in NBT Bancorp by 1.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank’s stock valued at $1,425,000 after purchasing an additional 496 shares during the period. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Performance

Shares of NBTB opened at $40.76 on Wednesday. The firm’s 50 day moving average is $42.59 and its 200-day moving average is $42.11. The stock has a market capitalization of $2.14 billion, a P/E ratio of 14.71 and a beta of 0.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.88 and a quick ratio of 0.88. NBT Bancorp has a 12-month low of $37.31 and a 12-month high of $52.44.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.06. The company had revenue of $171.15 million for the quarter, compared to analysts’ expectations of $171.04 million. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. Equities research analysts anticipate that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were issued a $0.37 dividend. The ex-dividend date was Friday, August 29th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. NBT Bancorp’s dividend payout ratio is 53.43%.

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.