Stephens Reaffirms Overweight Rating for NBT Bancorp (NASDAQ:NBTB)

Stephens reissued their overweight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a report released on Tuesday, Marketbeat Ratings reports. Stephens currently has a $42.00 price target on the bank’s stock.

Separately, Keefe, Bruyette & Woods reduced their price target on NBT Bancorp from $41.00 to $39.00 and set a market perform rating on the stock in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $42.60.

NBT Bancorp Stock Performance

Shares of NASDAQ NBTB opened at $49.38 on Tuesday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 19.07 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 1-year low of $30.31 and a 1-year high of $50.83. The stock’s 50-day moving average is $38.85 and its 200 day moving average is $36.89.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). NBT Bancorp had a return on equity of 9.73% and a net margin of 16.15%. The company had revenue of $194.00 million for the quarter, compared to the consensus estimate of $139.02 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. On average, sell-side analysts anticipate that NBT Bancorp will post 2.8 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.34 dividend. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is currently 49.42%.

Insider Transactions at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 1,325 shares of NBT Bancorp stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $35.66, for a total value of $47,249.50. Following the sale, the executive vice president now directly owns 32,402 shares in the company, valued at approximately $1,155,455.32. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Large investors have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new stake in shares of NBT Bancorp in the 1st quarter worth approximately $27,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 276 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of NBT Bancorp in the 4th quarter worth approximately $98,000. Naples Money Management LLC bought a new stake in shares of NBT Bancorp in the 4th quarter worth approximately $156,000. Finally, Union Savings Bank boosted its position in shares of NBT Bancorp by 4,075.0% during the first quarter. Union Savings Bank now owns 4,843 shares of the bank’s stock valued at $178,000 after purchasing an additional 4,727 shares in 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.