Bare Financial Services Inc Takes $98,000 Position in NBT Bancorp Inc. (NASDAQ:NBTB)

Bare Financial Services Inc purchased a new stake in shares of NBT Bancorp Inc. (NASDAQ:NBTB) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,327 shares of the bank’s stock, valued at approximately $98,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NBTB. Longfellow Investment Management Co. LLC purchased a new stake in NBT Bancorp in the 3rd quarter valued at about $27,000. Blue Trust Inc. raised its holdings in NBT Bancorp by 69.9% in the 4th quarter. Blue Trust Inc. now owns 671 shares of the bank’s stock valued at $28,000 after buying an additional 276 shares during the period. Asset Dedication LLC purchased a new stake in NBT Bancorp in the 3rd quarter valued at about $37,000. Naples Money Management LLC purchased a new stake in NBT Bancorp in the 4th quarter valued at about $156,000. Finally, Baystate Wealth Management LLC purchased a new stake in NBT Bancorp in the 3rd quarter valued at about $189,000. Institutional investors and hedge funds own 58.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on NBTB shares. Raymond James boosted their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods cut their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Thursday, March 21st. Finally, Piper Sandler cut their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

NBT Bancorp Stock Up 0.9 %

Shares of NBTB stock traded up $0.31 during trading hours on Thursday, reaching $36.52. 182,069 shares of the stock were exchanged, compared to its average volume of 204,653. The business’s fifty day moving average is $34.86 and its two-hundred day moving average is $36.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp Inc. has a 12-month low of $27.52 and a 12-month high of $43.77. The firm has a market capitalization of $1.72 billion, a P/E ratio of 13.98 and a beta of 0.52.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Tuesday, April 23rd. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $192.33 million for the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, research analysts expect that NBT Bancorp Inc. will post 2.82 EPS for the current fiscal year.

NBT Bancorp 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.