Keefe, Bruyette & Woods restated their hold rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research note released on Monday. Keefe, Bruyette & Woods currently has a $40.50 price target on the bank’s stock.

Several other research firms also recently weighed in on NBTB. Zacks Investment Research raised NBT Bancorp from a hold rating to a buy rating and set a $43.00 price target for the company in a research report on Thursday, October 26th. BidaskClub downgraded NBT Bancorp from a buy rating to a hold rating in a research report on Thursday, December 7th. Boenning Scattergood reissued a hold rating on shares of NBT Bancorp in a research report on Wednesday, January 24th. Finally, Sandler O’Neill set a $38.00 price target on NBT Bancorp and gave the stock a hold rating in a research report on Wednesday, January 3rd. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $38.88.

NBT Bancorp (NBTB) opened at $35.00 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,563.87, a price-to-earnings ratio of 18.23 and a beta of 0.86. NBT Bancorp has a 1 year low of $31.28 and a 1 year high of $42.28.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.03). The company had revenue of $104.92 million for the quarter, compared to analysts’ expectations of $103.52 million. NBT Bancorp had a return on equity of 9.16% and a net margin of 19.07%. During the same period in the previous year, the business posted $0.45 EPS. sell-side analysts forecast that NBT Bancorp will post 2.3 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend 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 buyback plan on Monday, October 23rd that allows the company to repurchase 1,000,000 shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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

Large investors have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of NBT Bancorp in the fourth quarter valued at $208,000. Amalgamated Bank grew 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 purchased a new stake in shares of NBT Bancorp in the second quarter valued at $218,000. Crossmark Global Holdings Inc. purchased a new stake in shares of NBT Bancorp in the third quarter valued at $239,000. Finally, Victory Capital Management Inc. grew 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. 49.75% of the stock is owned by institutional investors and hedge funds.

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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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