NBT Bancorp (NASDAQ:NBTB) Price Target Lowered to $41.00 at Keefe, Bruyette & Woods

by · The Cerbat Gem

NBT Bancorp (NASDAQ:NBTB – Free Report) had its target price reduced by Keefe, Bruyette & Woods from $45.00 to $41.00 in a report issued on Thursday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

A number of other brokerages also recently commented on NBTB. StockNews.com started coverage on shares of NBT Bancorp in a research note on Thursday, October 5th. They issued a sell rating for the company. 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 note on Friday, January 5th. Finally, Piper Sandler reduced 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 note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp presently has a consensus rating of Hold and a consensus price target of $40.50.

Check Out Our Latest Analysis on NBTB

NBT Bancorp Trading Up 0.1 %

Shares of NBT Bancorp stock traded up $0.02 on Thursday, hitting $37.00. 174,349 shares of the company traded hands, compared to its average volume of 145,381. The stock’s 50 day moving average price is $39.43 and its 200-day moving average price is $36.00. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77. The company has a market cap of $1.74 billion, a PE ratio of 13.91 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The bank reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.21. The firm had revenue of $135.13 million during the quarter, compared to the consensus estimate of $132.14 million. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.46%. Equities research analysts predict that NBT Bancorp will post 2.95 EPS for the current year.

NBT Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, February 29th. NBT Bancorp’s payout ratio is presently 48.12%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, CFO Scott Allen Kingsley purchased 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, January 25th. The shares were acquired at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the transaction, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

A number of large investors have recently made changes to their positions in NBTB. Longfellow Investment Management Co. LLC purchased a new stake in shares of NBT Bancorp during the third quarter valued at $27,000. Lazard Asset Management LLC purchased a new stake in NBT Bancorp in the first quarter valued at $27,000. Blue Trust Inc. boosted its holdings 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 purchasing an additional 276 shares during the last quarter. Asset Dedication LLC purchased a new stake in NBT Bancorp in the third quarter valued at $37,000. Finally, Captrust Financial Advisors boosted its holdings in NBT Bancorp by 198.9% in the first quarter. Captrust Financial Advisors now owns 2,173 shares of the bank’s stock valued at $79,000 after purchasing an additional 1,446 shares during the last quarter. 58.38% of the stock is owned by hedge funds and other institutional investors.

NBT Bancorp Company Profile

(Get Free Report)

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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.

Further Reading