NBT Bancorp (NASDAQ:NBTB) Given “Overweight” Rating at Stephens

Stephens reissued their overweight rating on shares of NBT Bancorp (NASDAQ:NBTB) in a research report released on Tuesday morning, Benzinga reports. They currently have a $42.00 price target on the bank’s stock.

NBTB has been the subject of a number of other research reports. Janney Montgomery Scott upgraded shares of NBT Bancorp from a neutral rating to a buy rating and set a $39.00 target price for the company in a research note on Thursday, March 21st. Keefe, Bruyette & Woods cut their target price on shares of NBT Bancorp from $45.00 to $41.00 and set a market perform rating for the company in a research note on Thursday, January 25th. Piper Sandler dropped their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an overweight rating for the company in a research report on Thursday, January 25th. Finally, Raymond James boosted their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $41.60.

NBT Bancorp Stock Up 3.5 %

NASDAQ NBTB opened at $36.02 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $34.77 and its two-hundred day moving average is $36.23. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.54 and a beta of 0.51. NBT Bancorp has a 1-year low of $27.52 and a 1-year high of $43.77.

NBT Bancorp (NASDAQ:NBTB) last posted its earnings results on Monday, April 22nd. The bank reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. The company had revenue of $192.33 million during the quarter, compared to analysts’ expectations of $135.01 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities analysts forecast that NBT Bancorp will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now owns 49,132 shares in the company, valued at approximately $1,815,918.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now owns 49,132 shares in the company, valued at approximately $1,815,918.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott Allen Kingsley bought 1,000 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $36.80 per share, with a total value of $36,800.00. Following the transaction, the chief financial officer now directly owns 25,513 shares in the company, valued at approximately $938,878.40. The disclosure for this purchase can be found here. Insiders sold 8,641 shares of company stock worth $319,806 in the last quarter. Insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Register Financial Advisors LLC acquired a new position in shares of NBT Bancorp in the 1st quarter valued at $27,000. Vanguard Group Inc. grew its holdings in shares of NBT Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock valued at $236,475,000 after buying an additional 126,572 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of NBT Bancorp by 3.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 528,965 shares of the bank’s stock valued at $22,169,000 after buying an additional 19,084 shares during the period. Mendon Capital Advisors Corp acquired a new position in shares of NBT Bancorp in the 4th quarter valued at $1,676,000. Finally, Rafferty Asset Management LLC grew its holdings in shares of NBT Bancorp by 22.8% in the 4th quarter. Rafferty Asset Management LLC now owns 37,202 shares of the bank’s stock valued at $1,559,000 after buying an additional 6,904 shares during the period. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.