NBT Bancorp (NASDAQ:NBTB) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

NBT Bancorp (NASDAQ:NBTB) posted its quarterly earnings results on Monday. The bank reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02, Zacks reports. The company had revenue of $202.00 million during the quarter, compared to analyst estimates of $144.70 million. NBT Bancorp had a net margin of 16.15% and a return on equity of 9.64%. During the same period in the prior year, the business posted $0.84 EPS.

NBT Bancorp Stock Performance

NBT Bancorp stock opened at $45.29 on Wednesday. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $50.83. The stock’s 50 day simple moving average is $45.37 and its two-hundred day simple moving average is $41.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 17.55 and a beta of 0.50.

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s payout ratio is currently 52.71%.

Wall Street Analysts Forecast Growth

NBTB has been the subject of several recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $49.00 price objective on shares of NBT Bancorp in a research note on Tuesday, September 10th. Raymond James lowered NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.60.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the transaction, the director now owns 517,558 shares in the company, valued at approximately $22,824,307.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NBT Bancorp news, Director V Daniel Robinson II sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $44.10, for a total transaction of $882,000.00. Following the completion of the sale, the director now directly owns 517,558 shares in the company, valued at approximately $22,824,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,556 shares of company stock valued at $4,527,790. Corporate insiders own 3.32% of the company’s stock.

NBT Bancorp Company 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.