Analysts Give NBT Bancorp Inc. (NASDAQ:NBTB) a Moderate Buy Recommendation

Shares of NBT Bancorp Inc. (NASDAQ:NBTB) are currently rated with a consensus recommendation of ‘Moderate Buy’ by six research firms monitoring the company, according to recent reports. Out of these analysts, three have suggested holding shares, two have recommended buying, and one has issued a strong buy opinion for the stock. The average target price over the next 12 months is set at $48.17 based on the assessments from these various brokerages.

In the latest coverage, analysts have presented varied ratings for NBT Bancorp as follows: Stephens reaffirmed their ‘equal weight’ rating on September 10, establishing a target price of $49.00. Keefe, Bruyette & Woods raised their price target for NBT Bancorp from $50.00 to $55.00, labeling it as ‘market perform’ in their report dated December 4. StockNews.com also upgraded the stock from a ‘sell’ to a ‘hold’ rating on December 19. Furthermore, DA Davidson initiated coverage on December 12 and assigned a ‘neutral’ rating, setting a price target of $60.00.

Recent Performance of NBT Bancorp

On a recent trading day, shares of NBTB opened at $48.98. The stock has a 50-day simple moving average of $48.35 and a 200-day simple moving average of $45.14. In the past year, NBT Bancorp's shares have hit a low of $32.79 and a high of $52.44. The company holds a market capitalization of $2.31 billion, with a price-to-earnings ratio of 17.25 and a beta value of 0.52, indicating less volatility compared to the broader market.

In its latest quarterly earnings report issued on October 28, NBT Bancorp revealed earnings per share (EPS) of $0.80 for the quarter, surpassing the analysts’ expected consensus of $0.78 by $0.02. The bank recorded a net margin of 17.37% and a return on equity of 9.36%. Revenue for that quarter tallied at $202.00 million, greatly exceeding estimates of $144.70 million. When compared to the same quarter the prior year, EPS was noted as $0.84. Research analysts forecast an EPS of 2.94 for the ongoing year.

Dividend Information

NBT Bancorp has also recently announced a quarterly dividend, with payments made on December 16. Shareholders who held stock as of December 2 received a dividend of $0.34. This dividend reflects an annualized payout of $1.36, presenting a yield of 2.78%. Currently, NBT Bancorp’s dividend payout ratio stands at 47.89%, indicating a balanced approach to returning capital to shareholders.

Insider Transactions

In terms of insider trading activities, Director Timothy E. Delaney sold 40,000 shares on November 11 at an average selling price of $51.47, translating to a total transaction value of approximately $2.06 million. After this sale, Delaney holds 38,853 shares, worth around $1.99 million. This transaction marked a 50.73% reduction in his shareholding. Similarly, Director John H. Watt, Jr. sold 20,000 shares on October 30, achieving a total of $909,000 at an average price of $45.45. Following this, he retained 143,101 shares valued at about $6.50 million, leading to a 12.26% decrease in his holdings. Over the last three months, insiders collectively sold 81,694 shares worth roughly $4.05 million, while insiders own about 3.32% of the total stock in the company.

Institutional Investors and Ownership

Recently, institutional investors have adjusted their holdings in NBT Bancorp. For instance, Eagle Asset Management Inc. has boosted its holding by 76.3%, now owning 378,898 shares valued at approximately $16.76 million after a recent acquisition of 163,952 additional shares. Landscape Capital Management L.L.C. has initiated a new stake worth around $439,000 in the third quarter. Additionally, Edgestream Partners L.P. acquired a new position worth about $1.97 million during the second quarter. Ceredex Value Advisors LLC increased its stake by 2.6%, holding a total of 219,500 shares valued at $8.47 million after adding 5,500 shares. As of now, institutional investors control about 58.46% of NBT Bancorp’s total shares.

About NBT Bancorp Inc.

NBT Bancorp Inc. is recognized as a financial holding entity, offering a range of services including commercial banking, retail banking, and wealth management solutions. Their deposit offerings encompass demand deposit, savings accounts, money market deposits, and certificates of deposit. The lending portfolio of NBT Bancorp comprises consumer loans, home equity, mortgages, business loans, commercial loans, agricultural loans, and residential real estate loans.

NBTB, Investing, Analysis