Piper Jaffray Reaffirms Their Hold Rating on NBT Bancorp Inc

By Jason Carr

In a report issued on September 13, Matthew Breese from Piper Jaffray reiterated a Hold rating on NBT Bancorp Inc (NASDAQ: NBTB), with a price target of $35. The company’s shares closed on Friday at $34.22.

According to TipRanks.com, Breese is a 4-star analyst with an average return of 8.8% and a 71.1% success rate. Breese covers the Financial sector, focusing on stocks such as Univest Corporation Of Pennsylvania, Western New England Bancorp Inc, and First Connecticut Bancorp Inc.

NBT Bancorp Inc has an analyst consensus of Hold, with a price target consensus of $37.25.

Based on NBT Bancorp Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $106 million and quarterly net profit of $21.36 million. In comparison, last year the company earned revenue of $101 million and had a net profit of $19.91 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NBTB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

NBT Bancorp, Inc. is a financial holding company, which engages in the provision of banking services through its subsidiaries, NBT Bank, N.A. and NBT Financial Services, Inc. It also offers retail and commercial banking products as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.