NBT Bancorp Inc. (NASDAQ:NBTB) – Research analysts at Boenning Scattergood decreased their FY2017 EPS estimates for shares of NBT Bancorp in a research report issued on Wednesday. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings per share of $1.95 for the year, down from their previous estimate of $2.00. Boenning Scattergood also issued estimates for NBT Bancorp’s Q4 2017 earnings at $0.48 EPS, FY2018 earnings at $2.58 EPS and FY2019 earnings at $2.70 EPS.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. The company had revenue of $102.71 million during the quarter, compared to the consensus estimate of $101.31 million. During the same quarter last year, the company earned $0.46 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis.
Shares of NBT Bancorp (NASDAQ:NBTB) opened at $38.22 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. NBT Bancorp has a 52-week low of $31.28 and a 52-week high of $42.56. The company has a market capitalization of $1,655.30, a P/E ratio of 19.91 and a beta of 0.89.
NBT Bancorp announced that its board has authorized a share buyback plan on Monday, October 23rd that allows the company to buyback 1,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced 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 dividend yield of 2.41%. NBT Bancorp’s dividend payout ratio (DPR) is presently 47.92%.
In related news, Director V Daniel Robinson II sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $38.76, for a total transaction of $581,400.00. Following the completion of the transaction, the director now owns 10,141 shares in the company, valued at approximately $393,065.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 65,000 shares of company stock valued at $2,509,900 in the last 90 days. 3.07% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP increased its holdings in NBT Bancorp by 530.8% during the 3rd quarter. GSA Capital Partners LLP now owns 37,142 shares of the bank’s stock valued at $1,364,000 after purchasing an additional 31,254 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in NBT Bancorp by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,017,225 shares of the bank’s stock valued at $74,073,000 after purchasing an additional 42,291 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in NBT Bancorp by 24.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 272,144 shares of the bank’s stock valued at $9,994,000 after purchasing an additional 53,832 shares in the last quarter. Wells Fargo & Company MN increased its holdings in NBT Bancorp by 39.6% during the 3rd quarter. Wells Fargo & Company MN now owns 61,329 shares of the bank’s stock valued at $2,252,000 after purchasing an additional 17,399 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in NBT Bancorp by 29.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 98,734 shares of the bank’s stock valued at $3,633,000 after purchasing an additional 22,362 shares in the last quarter. Institutional investors and hedge funds own 49.44% of the company’s stock.
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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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