NBT Bancorp Inc. (NASDAQ:NBTB) released its quarterly earnings data on Monday, July 24th. The bank reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01, Briefing.com reports. The company had revenue of $99.93 million for the quarter, compared to the consensus estimate of $100.91 million. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. During the same period last year, the business posted $0.46 EPS.
Shares of NBT Bancorp (NBTB) traded up 0.85% during mid-day trading on Friday, reaching $33.15. The company’s stock had a trading volume of 162,156 shares. The stock has a market cap of $1.44 billion, a P/E ratio of 17.82 and a beta of 0.88. NBT Bancorp has a one year low of $31.27 and a one year high of $42.56. The stock has a 50 day moving average of $35.84 and a 200-day moving average of $37.64.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.92 annualized dividend and a yield of 2.78%. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.46%.
In other news, Director John C. Mitchell sold 1,438 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $35.48, for a total transaction of $51,020.24. Following the sale, the director now owns 32,781 shares of the company’s stock, valued at $1,163,069.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Mitchell sold 1,570 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.27, for a total value of $56,943.90. Following the sale, the director now directly owns 34,219 shares in the company, valued at approximately $1,241,123.13. The disclosure for this sale can be found here. 2.83% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of NBTB. Bank of Montreal Can raised its stake in NBT Bancorp by 26.0% in the first quarter. Bank of Montreal Can now owns 2,931 shares of the bank’s stock worth $109,000 after buying an additional 604 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in NBT Bancorp during the first quarter worth $136,000. State of Alaska Department of Revenue raised its stake in NBT Bancorp by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 4,790 shares of the bank’s stock worth $177,000 after buying an additional 130 shares in the last quarter. Biondo Investment Advisors LLC bought a new stake in NBT Bancorp during the second quarter worth $201,000. Finally, Amalgamated Bank raised its stake in NBT Bancorp by 1.1% in the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock worth $215,000 after buying an additional 66 shares in the last quarter. 49.87% of the stock is currently owned by institutional investors and hedge funds.
NBTB has been the topic of several research reports. Zacks Investment Research downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. BidaskClub downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Boenning Scattergood upgraded NBT Bancorp from an “under perform” rating to a “neutral” rating in a report on Tuesday. Keefe, Bruyette & Woods restated a “hold” rating and set a $38.50 price objective on shares of NBT Bancorp in a report on Tuesday, July 25th. Finally, ValuEngine upgraded NBT Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $36.75.
NBT Bancorp Company Profile
NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.
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