Brokerages Set NBT Bancorp Inc. (NASDAQ:NBTB) Price Target at $42.60

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $42.60.

A number of equities research analysts have recently issued reports on the company. Stephens reaffirmed an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th.

NBT Bancorp Stock Up 0.5 %

NBTB opened at $45.18 on Thursday. NBT Bancorp has a one year low of $30.31 and a one year high of $50.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s fifty day moving average is $46.24 and its 200-day moving average is $39.65. The company has a market capitalization of $2.13 billion, a PE ratio of 17.44 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The firm had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period in the prior year, the firm posted $0.80 EPS. On average, equities analysts predict that NBT Bancorp will post 2.86 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.34 per share. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. NBT Bancorp’s payout ratio is currently 52.51%.

Insider Activity

In other news, Director V Daniel Robinson II sold 20,000 shares of NBT Bancorp stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total transaction of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $44.10, for a total value of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at $22,824,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the completion of the transaction, the executive vice president now owns 15,003 shares in the company, valued at approximately $725,695.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,556 shares of company stock worth $4,527,790. 3.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NBTB. Charles Schwab Investment Management Inc. grew its stake in NBT Bancorp by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 530,209 shares of the bank’s stock valued at $22,221,000 after purchasing an additional 25,528 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NBT Bancorp by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,173,297 shares of the bank’s stock worth $91,086,000 after acquiring an additional 17,039 shares in the last quarter. Beacon Pointe Advisors LLC boosted its stake in shares of NBT Bancorp by 2.2% during the 4th quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock worth $759,000 after acquiring an additional 394 shares in the last quarter. Norges Bank bought a new stake in shares of NBT Bancorp during the 4th quarter worth about $12,547,000. Finally, Hsbc Holdings PLC bought a new stake in shares of NBT Bancorp during the 4th quarter worth about $11,434,000. Hedge funds and other institutional investors own 58.46% of the company’s stock.

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.