Brokerages expect that NBT Bancorp Inc. (NASDAQ:NBTB) will announce earnings of $0.73 per share for the current quarter, Zacks reports. Two analysts have made estimates for NBT Bancorp’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.72. NBT Bancorp reported earnings of $0.66 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.6%. The business is expected to report its next quarterly earnings results on Monday, January 25th.
On average, analysts expect that NBT Bancorp will report full year earnings of $2.34 per share for the current year, with EPS estimates ranging from $2.31 to $2.36. For the next year, analysts forecast that the business will post earnings of $2.65 per share, with EPS estimates ranging from $2.49 to $2.80. Zacks’ EPS averages are an average based on a survey of research analysts that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Saturday, October 31st. The bank reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.20. The company had revenue of $115.67 million for the quarter, compared to analysts’ expectations of $115.07 million. NBT Bancorp had a return on equity of 8.73% and a net margin of 19.96%.
NBTB has been the topic of a number of recent analyst reports. Zacks Investment Research cut NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Piper Sandler decreased their price objective on NBT Bancorp from $33.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, September 28th. BidaskClub raised NBT Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, December 8th. Finally, TheStreet raised NBT Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $36.00.
In other NBT Bancorp news, Director Jack H. Webb sold 6,000 shares of NBT Bancorp stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $30.02, for a total transaction of $180,120.00. Following the completion of the transaction, the director now owns 51,936 shares of the company’s stock, valued at approximately $1,559,118.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.29% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC purchased a new position in NBT Bancorp during the 2nd quarter valued at about $29,000. US Bancorp DE grew its holdings in NBT Bancorp by 4,672.7% during the 3rd quarter. US Bancorp DE now owns 1,575 shares of the bank’s stock valued at $42,000 after buying an additional 1,542 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in shares of NBT Bancorp by 312.2% during the third quarter. Riggs Asset Managment Co. Inc. now owns 2,061 shares of the bank’s stock worth $55,000 after purchasing an additional 1,561 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of NBT Bancorp by 199.6% during the second quarter. Bank of Montreal Can now owns 6,370 shares of the bank’s stock worth $173,000 after purchasing an additional 4,244 shares in the last quarter. Finally, Pathstone Family Office LLC purchased a new position in shares of NBT Bancorp during the third quarter worth about $194,000. 49.96% of the stock is owned by institutional investors and hedge funds.
NASDAQ NBTB opened at $31.87 on Friday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 14.16 and a beta of 0.73. NBT Bancorp has a one year low of $26.10 and a one year high of $41.27. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average is $31.02 and its 200-day moving average is $29.87.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, November 30th. NBT Bancorp’s dividend payout ratio (DPR) is currently 39.42%.
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans.
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