NBT Bancorp Inc. (NASDAQ:NBTB) – Research analysts at Boenning Scattergood raised their Q1 2018 EPS estimates for shares of NBT Bancorp in a research report issued to clients and investors on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the bank will earn $0.61 per share for the quarter, up from their previous estimate of $0.54. Boenning Scattergood also issued estimates for NBT Bancorp’s Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.66 EPS and Q4 2018 earnings at $0.66 EPS.
NBT Bancorp (NASDAQ:NBTB) last issued its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a net margin of 20.02% and a return on equity of 9.01%. The firm had revenue of $102.71 million during the quarter, compared to analysts’ expectations of $101.31 million. During the same quarter last year, the company posted $0.46 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year.
Shares of NBT Bancorp (NASDAQ:NBTB) traded down $0.15 during trading on Thursday, hitting $38.22. 69,439 shares of the company traded hands, compared to its average volume of 163,580. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.20. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $42.56. The stock has a market capitalization of $1,670.54, a PE ratio of 19.91 and a beta of 0.89.
NBT Bancorp announced that its Board of Directors has initiated a stock buyback plan on Monday, October 23rd that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.92 annualized dividend and a yield of 2.41%. NBT Bancorp’s dividend payout ratio is presently 47.92%.
In related news, Director V Daniel Robinson II sold 25,000 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $38.56, for a total transaction of $964,000.00. Following the sale, the director now owns 10,141 shares in the company, valued at $391,036.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 65,000 shares of company stock worth $2,509,900. 3.07% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC grew its position in shares of NBT Bancorp by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 5,867 shares of the bank’s stock valued at $217,000 after purchasing an additional 47 shares during the period. Amalgamated Bank grew its position in shares of NBT Bancorp by 1.1% in the second quarter. Amalgamated Bank now owns 5,814 shares of the bank’s stock valued at $215,000 after purchasing an additional 66 shares during the period. PNC Financial Services Group Inc. grew its position in shares of NBT Bancorp by 0.4% in the second quarter. PNC Financial Services Group Inc. now owns 39,800 shares of the bank’s stock valued at $1,471,000 after purchasing an additional 139 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of NBT Bancorp by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,240 shares of the bank’s stock valued at $378,000 after purchasing an additional 380 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of NBT Bancorp by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 33,198 shares of the bank’s stock valued at $1,227,000 after purchasing an additional 440 shares during the period. Institutional investors and hedge funds own 49.44% of the company’s stock.
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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