NBT Bancorp (NASDAQ:NBTB) Announces Quarterly Earnings Results

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

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $45.47 on Thursday. The firm has a 50-day moving average of $45.36 and a 200-day moving average of $41.61. 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 PE ratio of 17.62 and a beta of 0.50. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $50.83.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, December 2nd. NBT Bancorp’s dividend payout ratio is presently 52.71%.

Analyst Ratings Changes

A number of research firms recently commented on NBTB. Stephens reiterated 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 cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.60.

Insider Buying and Selling

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $25,020.00. Following the transaction, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at $1,300,905. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares in the company, valued at $1,300,905. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total transaction of $48,370.00. Following the completion of the transaction, the executive vice president now owns 15,003 shares in the company, valued at $725,695.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,556 shares of company stock valued at $4,527,790. 3.32% of the stock is owned by company insiders.

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.