Keefe, Bruyette & Woods Cuts NBT Bancorp (NASDAQ:NBTB) Price Target to $39.00

NBT Bancorp (NASDAQ:NBTB) had its price target decreased by Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note released on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Several other research analysts have also commented on NBTB. Piper Sandler cut their price objective on NBT Bancorp from $42.00 to $41.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Janney Montgomery Scott upgraded NBT Bancorp from a neutral rating to a buy rating and set a $39.00 target price on the stock in a report on Thursday, March 21st. Raymond James boosted their price target on NBT Bancorp from $40.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, January 5th. Finally, Stephens reaffirmed an overweight rating and issued a $42.00 price objective on shares of NBT Bancorp in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, NBT Bancorp presently has a consensus rating of Moderate Buy and a consensus target price of $41.20.

NBT Bancorp Price Performance

NASDAQ:NBTB opened at $35.90 on Wednesday. The company’s 50-day moving average is $34.79 and its two-hundred day moving average is $36.23. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 13.86 and a beta of 0.51. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data 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 net margin of 16.71% and a return on equity of 10.20%. The company had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. During the same quarter in the prior year, the business earned $0.88 earnings per share. Research analysts expect that NBT Bancorp will post 2.89 EPS for the current year.

Insider Buying and Selling at NBT Bancorp

In other news, Director Lowell A. Seifter sold 3,230 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares in the company, valued at approximately $1,815,918.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the completion of the transaction, the director now owns 49,132 shares in the company, valued at approximately $1,815,918.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The disclosure for this sale can be found here. Insiders sold a total of 8,641 shares of company stock worth $319,806 in the last 90 days. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBTB. Vanguard Group Inc. raised its stake in NBT Bancorp by 8.8% during the third quarter. Vanguard Group Inc. now owns 5,515,875 shares of the bank’s stock worth $174,798,000 after acquiring an additional 445,814 shares during the period. Norges Bank acquired a new stake in shares of NBT Bancorp during the 4th quarter worth approximately $12,547,000. Hsbc Holdings PLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth approximately $11,434,000. Fuller & Thaler Asset Management Inc. boosted its position in NBT Bancorp by 29.9% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 752,841 shares of the bank’s stock valued at $23,858,000 after purchasing an additional 173,218 shares during the period. Finally, NBT Bank N A NY grew its stake in NBT Bancorp by 49.2% during the 3rd quarter. NBT Bank N A NY now owns 281,169 shares of the bank’s stock worth $8,910,000 after buying an additional 92,718 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors.

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.