Wall Street analysts’ outlook for NBT Bancorp Inc. (NBTB)

NBT Bancorp Inc. (NASDAQ: NBTB) stock fell -11.24% on Tuesday to $37.60 against a previous-day closing price of $42.36. With 0.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.18 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $42.22 whereas the lowest price it dropped to was $37.14. The 52-week range on NBTB shows that it touched its highest point at $48.68 and its lowest point at $34.58 during that stretch. It currently has a 1-year price target of $47.17. With its current market cap of 1.59 billion, NBTB has annualized dividend of $1.20 while the current yield stands at 3.19%. Beta for the stock currently stands at 0.61.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NBTB was down-trending over the past week, with a drop of -14.06%, but this was down by -13.40% over a month. Three-month performance dropped to -11.70% while six-month performance fell -5.98%. The stock lost -4.15% in the past year, while it has lost -13.40% so far this year. A look at the trailing 12-month EPS for NBTB yields 3.54 with Next year EPS estimates of 3.64. For the next quarter, that number is 0.93. This implies an EPS growth rate of 49.30% for this year and 0.83% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.50%.

Float and Shares Shorts:

At present, 42.84 million NBTB shares are outstanding with a float of 41.12 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.82 million, which was 1.91% higher than short shares on Sep 14, 2022. In addition to Mr. John H. Watt Jr. as the firm’s Pres, CEO & Director, Mr. Scott A. Kingsley CPA serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 58.22% of NBTB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.44% of NBTB, in contrast to 40.80% held by mutual funds. Shares owned by individuals account for 17.90%. As the largest shareholder in NBTB with 13.88% of the stake, BlackRock Fund Advisors holds 5,946,993 shares worth 5,946,993. A second-largest stockholder of NBTB, The Vanguard Group, Inc., holds 4,819,584 shares, controlling over 11.25% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in NBTB, holding 1,958,554 shares or 4.57% stake. With a 6.82% stake in NBTB, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,922,749 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.92% of NBTB stock, is the second-largest Mutual Fund holder. It holds 1,252,446 shares valued at 54.38 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in NBTB, owning 1,048,600 shares worth 45.53 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NBTB since 6 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NBTB analysts setting a high price target of $49.00 and a low target of $41.00, the average target price over the next 12 months is $44.50. Based on these targets, NBTB could surge 30.32% to reach the target high and rise by 9.04% to reach the target low. Reaching the average price target will result in a growth of 18.35% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NBTB will report FY 2023 earnings on 01/22/2024. Analysts have provided yearly estimates in a range of $3.72 being high and $3.40 being low. For NBTB, this leads to a yearly average estimate of $3.58. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. NBT Bancorp Inc. surprised analysts by -$0.08 when it reported $0.85 EPS against a consensus estimate of $0.93. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is $0.92 and the low estimate is $0.82. The average estimate for the next quarter is thus $0.88.

Dividends & Yield:

In terms of dividends, NBTB has a current ratio of $1.2, which is $1.2 over the trailing 12-months, while a dividend of $1.05 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and NBTB currently yields $3.09. In the past year, NBTB’s dividend yield has been $3.09, but when looking at the stock over the past five years, its yield has been $2.91. Accordingly, NBTB has a current buyback yield of $1.39. This was $1.39 for the TTM, and it was $1.02 for the past five years.

Summary of Insider Activity:

Insiders traded NBTB stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 750 shares were bought while 1,097 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 78,967 while 14,586 shares were sold.

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