NBT Bancorp (NASDAQ:NBTB) Receives “Overweight” Rating from Stephens

NBT Bancorp (NASDAQ:NBTB)‘s stock had its “overweight” rating reaffirmed by analysts at Stephens in a research note issued on Tuesday, Benzinga reports. They presently have a $42.00 price objective on the bank’s stock. Stephens’ target price suggests a potential upside of 15.70% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reduced their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Thursday, March 21st. Raymond James boosted their price objective on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods lowered their price target on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.60.

NBT Bancorp Price Performance

Shares of NBT Bancorp stock traded up $1.51 during trading hours on Tuesday, hitting $36.30. The company’s stock had a trading volume of 47,961 shares, compared to its average volume of 206,617. The business has a 50 day moving average price of $34.72 and a two-hundred day moving average price of $36.21. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77. The company has a market cap of $1.71 billion, a PE ratio of 13.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01. NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. During the same period in the previous year, the business earned $0.88 EPS. Analysts expect that NBT Bancorp will post 2.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Scott Allen Kingsley bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average cost of $36.80 per share, with a total value of $36,800.00. Following the transaction, the chief financial officer now directly owns 25,513 shares in the company, valued at $938,878.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Scott Allen Kingsley purchased 1,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were bought at an average cost of $36.80 per share, with a total value of $36,800.00. Following the transaction, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the sale, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,641 shares of company stock worth $319,806. Insiders own 3.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBTB. Longfellow Investment Management Co. LLC purchased a new position in NBT Bancorp in the 3rd quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new position in NBT Bancorp in the 1st quarter worth approximately $27,000. Blue Trust Inc. lifted its stake in NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock worth $28,000 after purchasing an additional 276 shares in the last quarter. Asset Dedication LLC purchased a new position in NBT Bancorp in the 3rd quarter worth approximately $37,000. Finally, Bare Financial Services Inc purchased a new position in NBT Bancorp in the 4th quarter worth approximately $98,000. 58.46% of the stock is owned by hedge funds and other 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.