NBT Bancorp Inc. (NASDAQ:NBTB) Receives Consensus Recommendation of "Hold" from Analysts
NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus "Hold" rating from five analysts, with an average target price of $52.75. Recent ratings include a downgrade to "sell" by StockNews.com and a "buy" rating from DA Davidson with a target of $53.00. The stock opened at $44.11, with a 12-month range of $34.47 to $52.44. NBT Bancorp reported earnings of $0.80 per share, exceeding estimates. Institutional investors hold 58.46% of the company, with recent increases in holdings from several firms.
Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) have been given an average rating of "Hold" by the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $52.75.
A number of equities research analysts recently weighed in on NBTB shares. DA Davidson lowered their target price on shares of NBT Bancorp from $57.00 to $53.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. StockNews.com downgraded shares of NBT Bancorp from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Hovde Group initiated coverage on shares of NBT Bancorp in a research note on Friday, March 21st. They issued a "market perform" rating and a $50.00 target price on the stock. Finally, Stephens raised shares of NBT Bancorp from an "equal weight" rating to an "overweight" rating and set a $53.00 price target on the stock in a research note on Wednesday, January 29th.
Get Our Latest Analysis on NBTB
NBT Bancorp Price Performance
NBTB stock opened at $44.11 on Friday. The firm has a 50 day moving average of $42.00 and a 200-day moving average of $46.01. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 12 month low of $34.47 and a 12 month high of $52.44. The firm has a market capitalization of $2.08 billion, a P/E ratio of 14.90 and a beta of 0.58.
NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.04. The business had revenue of $155.31 million for the quarter, compared to the consensus estimate of $151.00 million. NBT Bancorp had a net margin of 17.84% and a return on equity of 9.39%. During the same period last year, the firm posted $0.68 earnings per share. As a group, sell-side analysts predict that NBT Bancorp will post 3.69 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other NBT Bancorp news, Director Heidi M. Hoeller purchased 2,588 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $42.88 per share, with a total value of $110,973.44. Following the completion of the purchase, the director now owns 11,578 shares of the company's stock, valued at $496,464.64. The trade was a 28.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.03% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. TD Private Client Wealth LLC grew its holdings in shares of NBT Bancorp by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after purchasing an additional 294 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of NBT Bancorp by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock worth $230,000 after purchasing an additional 310 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of NBT Bancorp by 6.8% in the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock worth $348,000 after purchasing an additional 461 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NBT Bancorp by 1.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank's stock worth $1,425,000 after purchasing an additional 496 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in NBT Bancorp by 42.0% in the fourth quarter. US Bancorp DE now owns 1,836 shares of the bank's stock valued at $88,000 after acquiring an additional 543 shares in the last quarter. Institutional investors own 58.46% of the company's stock.
NBT Bancorp Company Profile
(Get Free ReportNBT 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.
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