NBT Bancorp Inc. (NBTB) Receives $38.25 Average Price Target from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has received an average rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.25.

A number of research analysts have commented on NBTB shares. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, October 26th. BidaskClub lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of NBT Bancorp in a research report on Tuesday, October 3rd. Finally, Sandler O’Neill set a $38.00 price objective on NBT Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd.

In other news, Director V Daniel Robinson II sold 15,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $38.76, for a total value of $581,400.00. Following the transaction, the director now directly owns 10,141 shares in the company, valued at approximately $393,065.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Chewens sold 4,190 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total value of $160,937.90. Following the completion of the transaction, the chief financial officer now owns 59,443 shares in the company, valued at $2,283,205.63. The disclosure for this sale can be found here. Insiders sold a total of 69,190 shares of company stock worth $2,670,838 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC boosted its position in shares of NBT Bancorp by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock worth $217,000 after purchasing an additional 47 shares during the last quarter. Amalgamated Bank boosted its position in shares of NBT Bancorp by 1.1% in the 2nd quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after purchasing an additional 66 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NBT Bancorp by 0.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 39,800 shares of the bank’s stock worth $1,471,000 after purchasing an additional 139 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of NBT Bancorp by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,198 shares of the bank’s stock worth $1,227,000 after purchasing an additional 440 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of NBT Bancorp by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 242,496 shares of the bank’s stock worth $8,960,000 after purchasing an additional 626 shares during the last quarter. Institutional investors and hedge funds own 49.44% of the company’s stock.

NBT Bancorp (NASDAQ:NBTB) traded up $0.23 during mid-day trading on Tuesday, reaching $37.71. The company had a trading volume of 146,726 shares, compared to its average volume of 96,155. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $42.55. The firm has a market cap of $1,641.82, a PE ratio of 19.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.83 and a quick ratio of 0.83.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. The firm had revenue of $102.71 million during the quarter, compared to analysts’ expectations of $101.31 million. During the same period last year, the firm posted $0.46 EPS. The business’s revenue was up 6.6% on a year-over-year basis. equities research analysts forecast that NBT Bancorp will post 2 earnings per share for the current year.

NBT Bancorp declared that its Board of Directors has approved a share buyback plan on Monday, October 23rd that permits the company to repurchase 1,000,000 outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.

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