NBT Bancorp Inc. (NBTB) Receives $36.75 Average Price Target from Analysts

NBT Bancorp Inc. (NASDAQ:NBTB) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.75.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. ValuEngine lowered shares of NBT Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies restated a “hold” rating and set a $35.50 price target on shares of NBT Bancorp in a report on Friday, July 14th. Boenning Scattergood upgraded shares of NBT Bancorp from an “under perform” rating to a “neutral” rating in a report on Tuesday, August 15th. Finally, BidaskClub lowered shares of NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.

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Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of NBT Bancorp by 47,917.6% in the 1st quarter. BlackRock Inc. now owns 5,456,241 shares of the bank’s stock valued at $202,263,000 after acquiring an additional 5,444,878 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of NBT Bancorp by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,097,601 shares of the bank’s stock valued at $151,407,000 after acquiring an additional 30,239 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of NBT Bancorp by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,974,934 shares of the bank’s stock valued at $72,975,000 after acquiring an additional 23,784 shares in the last quarter. State Street Corp increased its stake in shares of NBT Bancorp by 14.1% in the 1st quarter. State Street Corp now owns 1,246,976 shares of the bank’s stock valued at $46,225,000 after acquiring an additional 154,441 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of NBT Bancorp by 1.4% in the 2nd quarter. Northern Trust Corp now owns 1,103,970 shares of the bank’s stock valued at $40,792,000 after acquiring an additional 14,921 shares in the last quarter. Institutional investors own 49.20% of the company’s stock.

Shares of NBT Bancorp (NBTB) traded up 1.63% on Wednesday, reaching $34.22. 420,914 shares of the company were exchanged. NBT Bancorp has a 12 month low of $31.28 and a 12 month high of $42.56. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 18.40 and a beta of 0.90. The company’s 50-day moving average price is $33.79 and its 200 day moving average price is $36.59.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, July 24th. The bank reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. NBT Bancorp had a net margin of 19.68% and a return on equity of 8.81%. The firm had revenue of $99.93 million during the quarter, compared to analyst estimates of $100.91 million. During the same quarter last year, the business earned $0.46 EPS. On average, equities research analysts expect that NBT Bancorp will post $1.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.69%. NBT Bancorp’s dividend payout ratio is currently 49.46%.

NBT Bancorp Company Profile

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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