NBT Bancorp Inc. (NASDAQ:NBTB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $51.25.

A number of research firms recently issued reports on NBTB. Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research report on Monday, December 29th.

NBT Bancorp Stock Up 0.2%

Shares of NBT Bancorp stock opened at $41.59 on Monday. The stock’s 50-day moving average is $41.87 and its 200 day moving average is $42.18. NBT Bancorp has a one year low of $37.31 and a one year high of $49.18. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 13.86 and a beta of 0.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.88.

NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, October 27th. The bank reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. The business had revenue of $186.07 million during the quarter, compared to the consensus estimate of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. Equities research analysts anticipate that NBT Bancorp will post 3.69 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, December 1st. NBT Bancorp’s dividend payout ratio (DPR) is 49.33%.

Insider Activity at NBT Bancorp

In other news, Director Timothy E. Delaney bought 10,000 shares of the stock in a transaction dated Thursday, November 6th. The shares were bought at an average cost of $40.98 per share, with a total value of $409,800.00. Following the completion of the transaction, the director directly owned 51,885 shares of the company’s stock, valued at $2,126,247.30. This trade represents a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.03% of the stock is currently owned by corporate insiders.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of NBT Bancorp by 22.3% in the first quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after buying an additional 7,349 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of NBT Bancorp by 45.0% in the 1st quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after acquiring an additional 4,231 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in NBT Bancorp in the 1st quarter valued at about $2,010,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NBT Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock valued at $1,175,000 after acquiring an additional 1,197 shares in the last quarter. Finally, Great Lakes Advisors LLC boosted its stake in NBT Bancorp by 4.1% during the 1st quarter. Great Lakes Advisors LLC now owns 93,637 shares of the bank’s stock valued at $4,017,000 after purchasing an additional 3,719 shares during the last quarter. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.