Piper Jaffray Companies Reaffirms Hold Rating for NBT Bancorp Inc. (NBTB)
NBTB has been the subject of several other reports. BidaskClub downgraded shares of NBT Bancorp from a sell rating to a strong sell rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of NBT Bancorp from a buy rating to a hold rating in a report on Friday, September 8th. Finally, ValuEngine downgraded shares of NBT Bancorp from a buy rating to a hold rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. NBT Bancorp has a consensus rating of Hold and a consensus price target of $36.00.
Shares of NBT Bancorp (NASDAQ NBTB) opened at 34.69 on Friday. NBT Bancorp has a 1-year low of $31.28 and a 1-year high of $42.56. The stock has a market cap of $1.51 billion, a P/E ratio of 18.65 and a beta of 0.90. The company’s 50-day moving average is $33.71 and its 200 day moving average is $36.44.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business 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 period in the prior year, the firm earned $0.46 EPS. Equities research analysts anticipate that NBT Bancorp will post $1.95 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, August 30th. NBT Bancorp’s dividend payout ratio is currently 49.46%.
Several hedge funds and other institutional investors have recently bought and sold shares of NBTB. Bank of Montreal Can boosted its holdings in shares of NBT Bancorp by 26.0% during the 1st quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock worth $109,000 after buying an additional 604 shares during the period. Russell Investments Group Ltd. boosted its holdings in NBT Bancorp by 254.5% in the 1st quarter. Russell Investments Group Ltd. now owns 20,208 shares of the bank’s stock valued at $749,000 after purchasing an additional 14,508 shares during the period. Wells Fargo & Company MN boosted its holdings in NBT Bancorp by 0.6% in the 1st quarter. Wells Fargo & Company MN now owns 40,684 shares of the bank’s stock valued at $1,508,000 after purchasing an additional 225 shares during the period. Great West Life Assurance Co. Can boosted its holdings in NBT Bancorp by 7.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 61,881 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 4,259 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in NBT Bancorp by 28.9% in the 1st quarter. Bank of New York Mellon Corp now owns 796,715 shares of the bank’s stock valued at $29,534,000 after purchasing an additional 178,423 shares during the period. 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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