Wall Street brokerages expect NBT Bancorp Inc. (NASDAQ:NBTB) to announce $112.65 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NBT Bancorp’s earnings, with estimates ranging from $112.30 million to $113.00 million. NBT Bancorp reported sales of $109.90 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.5%. The business is scheduled to report its next earnings results on Monday, July 22nd.
On average, analysts expect that NBT Bancorp will report full-year sales of $451.50 million for the current financial year, with estimates ranging from $449.60 million to $453.40 million. For the next fiscal year, analysts expect that the firm will report sales of $463.90 million, with estimates ranging from $462.50 million to $465.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, April 22nd. The bank reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.03. NBT Bancorp had a net margin of 24.00% and a return on equity of 11.50%. The business had revenue of $111.51 million during the quarter, compared to analysts’ expectations of $112.00 million. During the same quarter in the previous year, the company earned $0.59 EPS.
Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new position in NBT Bancorp in the 4th quarter valued at about $30,000. Advisors Preferred LLC bought a new position in NBT Bancorp in the 4th quarter valued at about $64,000. Stone House Investment Management LLC bought a new position in NBT Bancorp in the 1st quarter valued at about $74,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in NBT Bancorp by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,053 shares of the bank’s stock valued at $106,000 after buying an additional 570 shares during the period. Finally, Bank of Montreal Can increased its holdings in NBT Bancorp by 58.6% in the 4th quarter. Bank of Montreal Can now owns 3,885 shares of the bank’s stock valued at $135,000 after buying an additional 1,436 shares during the period. 54.74% of the stock is currently owned by hedge funds and other institutional investors.
NBT Bancorp stock traded up $0.23 during midday trading on Monday, hitting $37.59. The company’s stock had a trading volume of 1,347 shares, compared to its average volume of 91,580. NBT Bancorp has a 1-year low of $30.36 and a 1-year high of $41.88. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 14.68 and a beta of 0.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, May 30th. NBT Bancorp’s dividend payout ratio is currently 40.63%.
About NBT Bancorp
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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