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NBTB · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is NBT Bancorp Inc (NBTB) stock moving?
NBT reported record Q3 2026 results on Oct 27: net income of $58.0M ($1.11 per diluted share), net interest margin up 5 bps to 3.78%, loans of $11.95B, and net charge-offs of 0.14%. Revenue grew 4.5% while expenses rose 3.3%. Analyst views since then are split. Piper Sandler kept Overweight with a $61 target, while Keefe, Bruyette & Woods kept Market Perform and cut its target to $55. The shares closed at $53.41 on Nov 10, between the two targets. Over the last 15 sessions the stock traded in a $51.43 to $55.35 range. It rose to $54.85 on Nov 4 on an 337K-share session, then fell back to $52.97 on Nov 5 after touching $55.35. Volume peaked at 518K shares on Nov 3, the day of a routine investor presentation, and dropped to 173K on Nov 10. The earnings news is already in the price, and the 10-Q filed Nov 6 gave no new detail in the provided text.
News behind the analysis
- Piper Sandler Reiterates Overweight on NBT Bancorp, Lowers Price Target to $61Piper Sandler kept its Overweight rating and cut its price target from $62 to $61.
- Piper Sandler Adjusts NBT Bancorp Price TargetSame Piper Sandler update: Overweight rating maintained, price target lowered from $62 to $61.
- Keefe, Bruyette & Woods Reiterates Market Perform on NBT Bancorp, Lowers Price Target to $55Keefe, Bruyette & Woods kept a Market Perform rating and lowered its price target to $55, below the current share price.
- NBT Bancorp Q3 2026 Earnings Call TranscriptTranscript of the third-quarter 2026 earnings call, held on Wednesday, Oct 28.
- NBT Bancorp Inc. Announces Record Third Quarter 2026 Results and Declares Cash DividendQ3 net income was $58.0M, or $1.11 per diluted share, up from $1.03 a year earlier. Net interest margin rose 5 bps to 3.78%, and period-end loans reached $11.95B.
- Investor presentation made available (Regulation FD disclosure)Management made an investor presentation available for future meetings with investors and analysts. The filing contains no new financial figures.
About NBT Bancorp Inc
NBT Bancorp is a financial holding company based in Norwich, New York. It owns NBT Bank, a community bank with roughly 174 branches across New York, Pennsylvania and New England, and had about $16.4 billion in assets as of September 2026. It also runs two fee businesses: EPIC Retirement Plan Services, which administers retirement plans nationwide, and a regional insurance agency. The company has grown through acquisitions such as Salisbury Bancorp and Evans Bancorp.
How it makes money
Most of its revenue is net interest income, which is the difference between what it earns on loans and securities and what it pays depositors. Its loans go to businesses, commercial real estate and consumers, including home buyers. Its other income is fees from retirement plan administration, wealth management, insurance commissions and everyday banking services. Those fees typically make up roughly a quarter of revenue, though that share is approximate.
What usually moves NBTB
- Interest rates and net interest margin
- Loan growth and credit quality
- Deposit competition and funding costs
- Northeast regional economy
- Acquisitions and integration