NBT Bancorp (NASDAQ:NBTB) Sets New 12-Month High – Should You Buy?

NBT Bancorp Inc. (NASDAQ:NBTB) shares reached a new 52-week high on Wednesday . The stock traded as high as $51.93 and last traded at $51.63, with a volume of 42074 shares traded. The stock had previously closed at $50.53.

Analyst Upgrades and Downgrades

NBTB has been the topic of several research reports. Raymond James lowered shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Stephens restated an “equal weight” rating and set a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.60.

NBT Bancorp Stock Down 0.2 %

The company has a market cap of $2.38 billion, a PE ratio of 17.76 and a beta of 0.49. The stock has a 50-day moving average of $45.14 and a 200-day moving average of $42.37. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $202.00 million during the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter last year, the company posted $0.84 EPS. Sell-side analysts predict that NBT Bancorp Inc. will post 2.91 earnings per share for the current fiscal year.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio (DPR) is currently 47.89%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the sale, the director now owns 417,558 shares in the company, valued at $18,614,735.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director V Daniel Robinson II sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.58, for a total transaction of $2,229,000.00. Following the transaction, the director now directly owns 417,558 shares of the company’s stock, valued at approximately $18,614,735.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $51.47, for a total transaction of $2,058,800.00. Following the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,556 shares of company stock valued at $7,545,690. Insiders own 3.32% of the company’s stock.

Institutional Trading of NBT Bancorp

Institutional investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its holdings in NBT Bancorp by 150.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 32,747 shares of the bank’s stock worth $1,104,000 after acquiring an additional 19,661 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in NBT Bancorp by 978.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,457 shares of the bank’s stock valued at $3,318,000 after purchasing an additional 82,071 shares during the period. Edgestream Partners L.P. purchased a new position in NBT Bancorp during the 2nd quarter valued at about $1,974,000. Inspire Investing LLC raised its position in NBT Bancorp by 6.9% during the 1st quarter. Inspire Investing LLC now owns 9,759 shares of the bank’s stock valued at $358,000 after purchasing an additional 634 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its holdings in NBT Bancorp by 2.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 219,500 shares of the bank’s stock worth $8,473,000 after buying an additional 5,500 shares during the period. Hedge funds and other institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

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