NBT Bancorp (NASDAQ:NBTB) Issues Earnings Results

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

NBT Bancorp Stock Performance

Shares of NBTB traded up $0.18 during trading hours on Wednesday, hitting $45.47. The stock had a trading volume of 258,098 shares, compared to its average volume of 203,540. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.86. NBT Bancorp has a 12 month low of $32.79 and a 12 month high of $50.83. The firm has a market capitalization of $2.14 billion, a PE ratio of 17.62 and a beta of 0.50. The stock has a fifty day moving average price of $45.37 and a 200 day moving average price of $41.58.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, December 2nd. NBT Bancorp’s payout ratio is currently 52.71%.

Insider Buying and Selling

In related news, EVP Amy Wiles sold 556 shares of NBT Bancorp 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 sale, the executive vice president now owns 28,909 shares of the company’s stock, valued at $1,300,905. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other NBT Bancorp news, EVP Martin Randolph Sparks sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 15,003 shares of the company’s stock, valued at approximately $725,695.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amy Wiles sold 556 shares of the business’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 sale, the executive vice president now directly owns 28,909 shares of the company’s stock, valued at $1,300,905. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,556 shares of company stock valued at $4,527,790 over the last 90 days. Company insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NBTB. Raymond James cut NBT Bancorp from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Stephens restated an “equal weight” rating and issued a $49.00 price target on shares of NBT Bancorp in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.60.

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.