NBT Bancorp Inc. (NBTB) Given Hold Rating at Piper Jaffray Companies
Piper Jaffray Companies reissued their hold rating on shares of NBT Bancorp Inc. (NASDAQ:NBTB) in a research report released on Wednesday morning. Piper Jaffray Companies currently has a $35.00 target price on the bank’s stock.
A number of other analysts also recently weighed in on NBTB. ValuEngine raised shares of NBT Bancorp from a hold rating to a buy rating in a research report on Tuesday, July 25th. BidaskClub raised shares of NBT Bancorp from a sell rating to a hold rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $38.50 target price on shares of NBT Bancorp in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of NBT Bancorp from a buy rating to a hold rating in a research report on Wednesday, March 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. NBT Bancorp currently has a consensus rating of Hold and a consensus target price of $36.75.
NBT Bancorp (NBTB) opened at 35.74 on Wednesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 19.22 and a beta of 0.88. The firm has a 50 day moving average of $36.96 and a 200-day moving average of $38.33. NBT Bancorp has a 1-year low of $29.54 and a 1-year high of $42.56.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. The business had revenue of $99.93 million for 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 period in the previous year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that NBT Bancorp will post $1.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s dividend payout ratio is presently 49.46%.
In other news, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $36.27, for a total value of $56,943.90. Following the sale, the director now directly owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the completion of the sale, the director now directly owns 32,781 shares in the company, valued at $1,163,069.88. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock worth $109,000 after buying an additional 604 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in NBT Bancorp during the first quarter worth $136,000. State of Alaska Department of Revenue increased its stake in NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in NBT Bancorp during the fourth quarter worth $239,000. Finally, Trexquant Investment LP acquired a new stake in NBT Bancorp during the first quarter worth $218,000. 49.87% of the stock is currently owned by hedge funds and other institutional investors.
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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