NBT Bancorp Inc. (NBTB) Receives Average Rating of “Hold” from Analysts

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.88.

Several research analysts recently commented on NBTB shares. Boenning Scattergood restated a “hold” rating on shares of NBT Bancorp in a report on Wednesday, January 24th. Zacks Investment Research upgraded shares of NBT Bancorp from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a report on Wednesday, January 3rd. BidaskClub upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Sandler O’Neill set a $38.00 price target on shares of NBT Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.50 price target on shares of NBT Bancorp in a research note on Monday, February 5th.

Shares of NBT Bancorp (NASDAQ NBTB) traded up $0.79 on Friday, reaching $35.79. 161,352 shares of the company traded hands, compared to its average volume of 109,053. NBT Bancorp has a fifty-two week low of $31.28 and a fifty-two week high of $42.28. The firm has a market capitalization of $1,523.82, a PE ratio of 19.14 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.83.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Monday, January 22nd. The bank reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.03). NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. The business had revenue of $104.92 million for the quarter, compared to analyst estimates of $103.52 million. During the same quarter in the previous year, the company posted $0.45 EPS. equities research analysts predict that NBT Bancorp will post 2.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Wednesday, February 28th. NBT Bancorp’s dividend payout ratio is currently 49.20%.

NBT Bancorp announced that its Board of Directors has approved a share repurchase plan on Monday, October 23rd that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other NBT Bancorp news, CFO Michael J. Chewens sold 4,190 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $38.41, for a total value of $160,937.90. Following the completion of the sale, the chief financial officer now owns 59,443 shares in the company, valued at $2,283,205.63. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert A. Wadsworth sold 1,625 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $37.20, for a total transaction of $60,450.00. Following the completion of the sale, the director now owns 16,194 shares of the company’s stock, valued at approximately $602,416.80. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.

A number of hedge funds have recently made changes to their positions in NBTB. CIBC Asset Management Inc bought a new position in shares of NBT Bancorp in the fourth quarter valued at about $208,000. Amalgamated Bank raised its position in shares of NBT Bancorp by 1.1% in the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock valued at $215,000 after purchasing an additional 66 shares during the period. GSA Capital Partners LLP bought a new position in shares of NBT Bancorp in the second quarter valued at about $218,000. Crossmark Global Holdings Inc. bought a new position in shares of NBT Bancorp in the third quarter valued at about $239,000. Finally, Victory Capital Management Inc. raised its position in shares of NBT Bancorp by 33.2% in the third quarter. Victory Capital Management Inc. now owns 6,650 shares of the bank’s stock valued at $244,000 after purchasing an additional 1,657 shares during the period. Hedge funds and other institutional investors own 49.75% of the company’s stock.

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About NBT Bancorp

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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