Keefe, Bruyette & Woods reissued their hold rating on shares of NBT Bancorp Inc. (NASDAQ:NBTB) in a research report report published on Tuesday morning. The brokerage currently has a $38.50 price objective on the bank’s stock.
Several other brokerages have also commented on NBTB. Zacks Investment Research raised NBT Bancorp from a hold rating to a buy rating and set a $44.00 price target on the stock in a research note on Thursday, April 27th. BidaskClub raised NBT Bancorp from a sell rating to a hold rating in a research note on Friday, June 9th. Finally, Piper Jaffray Companies reissued a hold rating and set a $35.50 price target on shares of NBT Bancorp in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $36.75.
Shares of NBT Bancorp (NASDAQ:NBTB) traded down 2.04% during trading on Tuesday, hitting $36.06. The company’s stock had a trading volume of 72,656 shares. The company has a 50-day moving average price of $37.00 and a 200-day moving average price of $38.43. NBT Bancorp has a one year low of $29.23 and a one year high of $42.56. The stock has a market cap of $1.57 billion, a PE ratio of 19.70 and a beta of 0.88.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 24th. The bank reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business had revenue of $99.93 million for the quarter, compared to analyst estimates of $100.91 million. NBT Bancorp had a return on equity of 8.86% and a net margin of 19.68%. During the same quarter in the previous year, the company earned $0.46 EPS. Equities analysts predict that NBT Bancorp will post $1.95 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, August 30th. NBT Bancorp’s dividend payout ratio (DPR) is 49.46%.
In other news, Director John C. Mitchell sold 1,570 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $36.27, for a total transaction of $56,943.90. Following the sale, the director now owns 34,219 shares of the company’s stock, valued at approximately $1,241,123.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Mitchell sold 1,438 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total value of $51,020.24. Following the sale, the director now directly owns 32,781 shares in the company, valued at approximately $1,163,069.88. The disclosure for this sale can be found here. 2.83% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock worth $109,000 after buying an additional 604 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in NBT Bancorp during the first quarter worth about $136,000. State of Alaska Department of Revenue raised its stake in NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares during the last quarter. Trexquant Investment LP bought a new stake in NBT Bancorp during the first quarter worth about $218,000. Finally, Russell Investments Group Ltd. bought a new stake in NBT Bancorp during the fourth quarter worth about $239,000. 49.87% of the stock is currently owned by hedge funds and other institutional investors.
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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