NBT Bancorp Inc. (NASDAQ:NBTB) Receives $51.25 Consensus Price Target from Brokerages

NBT Bancorp Inc. (NASDAQ:NBTB) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $51.25.

Several analysts recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th. DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. Finally, Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd.

Insider Buying and Selling at NBT Bancorp

In other news, Director Timothy E. Delaney purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of $40.98 per share, with a total value of $409,800.00. Following the purchase, the director directly owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. This trade represents a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.03% of the stock is owned by company insiders.

Institutional Trading of NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its stake in NBT Bancorp by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 397 shares during the last quarter. Daytona Street Capital LLC bought a new position in shares of NBT Bancorp during the 4th quarter valued at $198,000. Cornell Pochily Investment Advisors Inc. lifted its stake in shares of NBT Bancorp by 11.2% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 7,530 shares of the bank’s stock valued at $313,000 after purchasing an additional 761 shares during the last quarter. Financial Planning Hawaii Inc. acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at $641,000. Finally, SG Americas Securities LLC increased its position in NBT Bancorp by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after buying an additional 47,550 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Stock Down 4.0%

NASDAQ:NBTB opened at $43.65 on Friday. The business’s fifty day moving average price is $42.56 and its 200 day moving average price is $42.30. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 14.55 and a beta of 0.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. NBT Bancorp has a 1-year low of $37.31 and a 1-year high of $49.18.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 27th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.08. The company had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. On average, sell-side analysts forecast that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.

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.