NBT Bancorp (NASDAQ:NBTB) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

NBT Bancorp (NASDAQ:NBTB) issued its quarterly earnings data on Monday. The bank reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.01), Zacks reports. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same quarter in the prior year, the firm earned $0.72 EPS.

NBT Bancorp Stock Performance

NASDAQ NBTB opened at $48.70 on Tuesday. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $52.44. The firm’s fifty day moving average price is $48.86 and its two-hundred day moving average price is $46.93. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.30 billion, a PE ratio of 17.15 and a beta of 0.53.

NBT Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 2.79%. NBT Bancorp’s dividend payout ratio is currently 47.89%.

Analysts Set New Price Targets

A number of brokerages recently commented on NBTB. StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on NBT Bancorp from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson began coverage on shares of NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.75.

Insider Activity at NBT Bancorp

In other news, EVP Amy Wiles sold 500 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the sale, the executive vice president now directly owns 27,409 shares of the company’s stock, valued at $1,406,355.79. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John H. Watt, Jr. sold 20,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $45.45, for a total transaction of $909,000.00. Following the transaction, the director now owns 143,101 shares in the company, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,694 shares of company stock worth $4,048,185 in the last quarter. 3.32% of the stock is owned by 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.