Keefe, Bruyette & Woods reaffirmed their hold rating on shares of NBT Bancorp Inc. (NASDAQ:NBTB) in a report released on Tuesday morning. The brokerage currently has a $38.00 price objective on the bank’s stock.

A number of other equities research analysts also recently weighed in on NBTB. Piper Jaffray Companies raised shares of NBT Bancorp from an underweight rating to a neutral rating and set a $35.50 price objective for the company in a research report on Thursday, June 8th. BidaskClub raised shares of NBT Bancorp from a sell rating to a hold rating in a research report on Friday, June 9th. ValuEngine raised shares of NBT Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 25th. Zacks Investment Research raised shares of NBT Bancorp from a hold rating to a buy rating and set a $40.00 price objective for the company in a research report on Friday, July 28th. Finally, Boenning Scattergood raised shares of NBT Bancorp from an under perform rating to a neutral rating in a research report on Tuesday, August 15th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $35.88.

NBT Bancorp (NASDAQ NBTB) opened at 37.32 on Tuesday. The company has a 50-day moving average price of $34.35 and a 200 day moving average price of $36.16. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $42.56. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 20.06 and a beta of 0.91.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, July 24th. The bank reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $99.93 million during the quarter, compared to the consensus estimate of $100.91 million. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities research analysts predict that NBT Bancorp will post $1.95 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Wednesday, August 30th. NBT Bancorp’s dividend payout ratio is presently 49.46%.

Several large investors have recently made changes to their positions in the stock. Miles Capital Inc. grew its position in shares of NBT Bancorp by 0.3% during the 1st quarter. Miles Capital Inc. now owns 6,953 shares of the bank’s stock valued at $258,000 after buying an additional 19 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of NBT Bancorp by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock valued at $217,000 after buying an additional 47 shares during the last quarter. Amalgamated Bank grew its position in shares of NBT Bancorp by 1.1% during the 2nd quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock valued at $215,000 after buying an additional 66 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of NBT Bancorp by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,860 shares of the bank’s stock valued at $366,000 after buying an additional 90 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of NBT Bancorp by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 39,800 shares of the bank’s stock valued at $1,471,000 after buying an additional 139 shares during the last quarter. 49.20% of the stock is owned by institutional investors and hedge funds.

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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