Keefe, Bruyette & Woods Cuts NBT Bancorp (NASDAQ:NBTB) Price Target to $39.00

NBT Bancorp (NASDAQ:NBTB) had its target price trimmed by Keefe, Bruyette & Woods from $41.00 to $39.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

NBTB has been the topic of a number of other reports. Stephens reaffirmed an overweight rating and issued a $42.00 target price on shares of NBT Bancorp in a research report on Tuesday. Piper Sandler cut their target price on NBT Bancorp from $42.00 to $41.00 and set an overweight rating on the stock in a research report on Thursday, January 25th. Raymond James upped their target price on NBT Bancorp from $40.00 to $45.00 and gave the company an outperform rating in a research report on Friday, January 5th. Finally, Janney Montgomery Scott raised NBT Bancorp from a neutral rating to a buy rating and set a $39.00 price target on the stock in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $41.20.

NBT Bancorp Stock Up 0.6 %

NASDAQ NBTB opened at $35.97 on Wednesday. The business has a 50 day moving average price of $34.81 and a two-hundred day moving average price of $36.25. NBT Bancorp has a fifty-two week low of $27.52 and a fifty-two week high of $43.77. The stock has a market cap of $1.70 billion, a PE ratio of 13.89 and a beta of 0.51. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last announced its earnings results on Tuesday, April 23rd. 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 return on equity of 10.20% and a net margin of 16.71%. The company had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. During the same period in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts predict that NBT Bancorp will post 2.82 EPS for the current fiscal year.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $37.50, for a total value of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.32% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in NBT Bancorp by 69.9% in the fourth quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the last quarter. Beacon Pointe Advisors LLC increased its holdings in shares of NBT Bancorp by 2.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 18,103 shares of the bank’s stock valued at $759,000 after purchasing an additional 394 shares during the period. Yousif Capital Management LLC increased its holdings in shares of NBT Bancorp by 1.7% during the third quarter. Yousif Capital Management LLC now owns 24,274 shares of the bank’s stock valued at $769,000 after purchasing an additional 395 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of NBT Bancorp by 4.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 14,014 shares of the bank’s stock valued at $444,000 after purchasing an additional 600 shares during the period. Finally, Maryland State Retirement & Pension System increased its holdings in shares of NBT Bancorp by 4.1% during the third quarter. Maryland State Retirement & Pension System now owns 17,396 shares of the bank’s stock valued at $551,000 after purchasing an additional 681 shares during the period. 58.46% of the stock is currently owned by institutional investors.

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.