According to recent data, NBT Bancorp Inc. (NASDAQ:NBTB) experienced a significant decrease in short interest during the month of August. The short interest totalled 903,300 shares as of August 31st, marking a 33.1% decrease from the August 15th total of 1,350,000 shares. This decrease in short interest represents approximately 2.2% of the company’s stock that is currently sold short. With an average daily trading volume of 204,200 shares, the days-to-cover ratio is currently 4.4 days.
Several research reports have been published on NBT Bancorp, with analysts providing their assessments and price targets for the stock. Stephens reiterated an “equal weight” rating and set a price target of $35.00, while Raymond James raised their target price to $40.00 and gave the stock an “outperform” rating. Another research report from StockNews.com issued a “sell” rating for the company, while Piper Sandler boosted their target price to $42.00 and gave NBT Bancorp an “overweight” rating. Overall, the stock currently has an average rating of “Hold” with a consensus price target of $38.63.
Hedge funds have also made changes to their positions in NBT Bancorp recently. Belpointe Asset Management, GSA Capital Partners, American Century Companies, WINTON GROUP, and Guggenheim Capital have all acquired new positions or increased their stakes in the company. These institutional investors and hedge funds now hold a total of 58.38% of NBT Bancorp’s stock.
Shares of NBT Bancorp have been trading at $32.80 on NASDAQ, with a market capitalization of $1.40 billion. The stock has a P/E ratio of 10.19 and a beta of 0.53. NBT Bancorp’s one-year low is $27.52 and its one-year high is $48.68. The 50-day moving average is $35.04, while the 200-day moving average is $34.46. The company’s debt-to-equity ratio is 0.19, and it has a current ratio of 0.83 and a quick ratio of 0.83.
In terms of financial performance, NBT Bancorp reported earnings of $0.80 per share for the last quarter, exceeding the consensus estimate of $0.76. The company’s revenue for the same quarter was $121.13 million, slightly below analysts’ expectations of $126.11 million. NBT Bancorp currently has a net margin of 24.02% and a return on equity of 12.53%. Research analysts expect the company to post an EPS of 3.09 for the current year.
In addition, NBT Bancorp recently announced an increase in its quarterly dividend. Investors of record on September 1st will receive a dividend of $0.32 per share, up from the previous quarterly dividend of $0.30. This translates to an annualized dividend of $1.28 and a yield of 3.90%. The ex-dividend date of the new dividend is August 31st. NBT Bancorp’s dividend payout ratio is currently 39.75%.
NBT Bancorp Inc. is a financial holding company that provides commercial banking, retail banking, and wealth management services. The company offers a range of deposit and loan products, including commercial and industrial loans, commercial real estate loans, agricultural loans, consumer loans, home equity loans, mortgages, and residential real estate loans.
Sources: NBT Bancorp Inc. Short Interest Update, Hedge Funds Weigh In On NBT Bancorp, NBT Bancorp Stock Performance, NBT Bancorp Increases Dividend, NBT Bancorp Company Profile
- Short Interest: The number of shares of a particular stock that have been sold short and not yet covered or closed out.
- Stock Rating: An evaluation or assessment of a stock or company based on its potential performance, often provided by analysts.
- Price Target: The predicted price level at which an analyst believes a stock will trade in the future.
- Hedge Fund: An investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex strategies.
- Market Capitalization: The total value of a company’s outstanding shares of stock, calculated by multiplying the current market price by the number of shares outstanding.
- EPS: Earnings per share, calculated by dividing a company’s net income by the number of outstanding shares of common stock.
- Net Margin: The percentage of revenue that remains as profit after all expenses and taxes have been deducted.
- Return on Equity: A measure of a company’s profitability that indicates how well it is using its shareholders’ equity to generate profit.
- Dividend: A payment made by a corporation to its shareholders, usually in the form of cash or additional shares of stock, based on the company’s profits or reserves.
- Dividend Payout Ratio: The percentage of a company’s earnings that are paid out as dividends to shareholders.
Sources: Merriam-Webster Dictionary, Investopedia