NBT Bancorp Inc. (NASDAQ:NBTB) Given Consensus Rating of “Moderate Buy” by Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $50.6667.

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

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney bought 22,730 shares of the company’s stock in a transaction on Wednesday, January 28th. The stock was acquired at an average price of $42.97 per share, for a total transaction of $976,708.10. Following the completion of the transaction, the director directly owned 74,615 shares of the company’s stock, valued at approximately $3,206,206.55. This represents a 43.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in NBT Bancorp by 22.3% during the 1st quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after acquiring an additional 7,349 shares during the period. AQR Capital Management LLC lifted its position in shares of NBT Bancorp by 45.0% during the first quarter. AQR Capital Management LLC now owns 13,630 shares of the bank’s stock worth $585,000 after purchasing an additional 4,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NBT Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,388 shares of the bank’s stock valued at $1,175,000 after purchasing an additional 1,197 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NBT Bancorp by 15.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,550 shares of the bank’s stock worth $7,102,000 after purchasing an additional 22,655 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of NBT Bancorp by 1,188.4% in the first quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after purchasing an additional 81,432 shares during the last quarter. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $44.11 on Friday. The company’s 50-day moving average price is $42.86 and its 200-day moving average price is $42.31. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.31 billion, a PE ratio of 13.37 and a beta of 0.50. NBT Bancorp has a twelve month low of $37.31 and a twelve month high of $49.18.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%.The company had revenue of $185.14 million during the quarter, compared to analyst estimates of $183.63 million. On average, equities research analysts forecast that NBT Bancorp will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 2nd. NBT Bancorp’s dividend payout ratio is 49.33%.

About NBT Bancorp

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.