NBT Bancorp (NASDAQ:NBTB) Hits New 1-Year High – What’s Next?

NBT Bancorp Inc. (NASDAQ:NBTB) reached a new 52-week high on Friday . The stock traded as high as $46.93 and last traded at $46.6640, with a volume of 79411 shares trading hands. The stock had previously closed at $46.43.

Wall Street Analyst Weigh In

NBTB has been the topic of several research analyst reports. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. DA Davidson restated a “buy” rating and issued a $52.00 price objective on shares of NBT Bancorp in a research note on Monday, April 27th. Piper Sandler began coverage on NBT Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $50.00 price objective for the company. Hovde Group reduced their price objective on NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.44 billion, a PE ratio of 13.36 and a beta of 0.49. The firm has a 50 day moving average price of $44.70 and a 200 day moving average price of $43.63.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million during the quarter, compared to analysts’ expectations of $185.36 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. Research analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 1st. NBT Bancorp’s dividend payout ratio is presently 42.17%.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently bought and sold shares of NBTB. Royal Bank of Canada increased its stake in NBT Bancorp by 22.3% in the 1st quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock worth $1,729,000 after buying an additional 7,349 shares in the last quarter. AQR Capital Management LLC increased its stake in 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 buying an additional 4,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $1,175,000 after buying an additional 1,197 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NBT Bancorp by 15.9% in the 1st 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 buying an additional 22,655 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in NBT Bancorp by 1,188.4% in the 1st quarter. Jane Street Group LLC now owns 88,284 shares of the bank’s stock worth $3,787,000 after buying an additional 81,432 shares in the last quarter. Hedge funds and other 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.