Shares of NBT Bancorp Inc. (NASDAQ:NBTB) have earned an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold rating.
Analysts have set a 1-year consensus target price of $29.00 for the company and are predicting that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given NBT Bancorp an industry rank of 152 out of 265 based on the ratings given to its competitors.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a report on Friday, July 29th. Keefe, Bruyette & Woods increased their target price on NBT Bancorp from $27.00 to $28.00 and gave the stock a “market perform” rating in a report on Friday, July 29th.
Shares of NBT Bancorp (NASDAQ:NBTB) traded up 0.87% on Tuesday, hitting $32.39. The stock had a trading volume of 15,652 shares. The firm has a market cap of $1.40 billion, a P/E ratio of 18.30 and a beta of 0.94. The company’s 50-day moving average price is $31.86 and its 200 day moving average price is $29.18. NBT Bancorp has a 12-month low of $23.81 and a 12-month high of $33.04.
NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Monday, July 25th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. NBT Bancorp had a return on equity of 8.79% and a net margin of 19.38%. The business earned $95.39 million during the quarter. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that NBT Bancorp will post $1.80 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 2.87%. NBT Bancorp’s dividend payout ratio is 51.98%.
In related news, EVP Jeffrey M. Levy sold 31,000 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.83, for a total transaction of $924,730.00. Following the sale, the executive vice president now directly owns 57,139 shares in the company, valued at approximately $1,704,456.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Martin A. Dietrich sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $29.78, for a total value of $744,500.00. Following the sale, the chief executive officer now owns 187,815 shares in the company, valued at $5,593,130.70. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NBTB. Victory Capital Management Inc. raised its stake in NBT Bancorp by 77.5% in the second quarter. Victory Capital Management Inc. now owns 4,270 shares of the company’s stock worth $122,000 after buying an additional 1,864 shares during the period. Bank of Montreal Can purchased a new position in shares of NBT Bancorp during the second quarter worth approximately $137,000. Societe Generale purchased a new position in shares of NBT Bancorp during the second quarter worth approximately $141,000. SG Americas Securities LLC purchased a new position in shares of NBT Bancorp during the second quarter worth approximately $141,000. Finally, PineBridge Investments L.P. raised its position in shares of NBT Bancorp by 3.4% in the second quarter. PineBridge Investments L.P. now owns 5,447 shares of the company’s stock worth $156,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds own 46.02% of the company’s stock.
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 other subsidiaries, which provide 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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