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

NBT Bancorp (NASDAQ:NBTB) issued its quarterly earnings results on Monday. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.01, Yahoo Finance reports. The business had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.41%. During the same quarter in the prior year, the company earned $0.88 earnings per share.

NBT Bancorp Stock Down 0.3 %

NBT Bancorp stock traded down $0.12 during mid-day trading on Wednesday, hitting $35.90. The company had a trading volume of 175,061 shares, compared to its average volume of 207,516. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 13.71 and a beta of 0.51. The business has a fifty day moving average of $34.77 and a 200 day moving average of $36.23. NBT Bancorp has a 1 year low of $27.52 and a 1 year high of $43.77.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NBTB. Piper Sandler reduced their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Raymond James raised their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Thursday, March 21st. Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, CFO Scott Allen Kingsley bought 1,000 shares of the stock in a transaction dated Thursday, January 25th. The shares were acquired at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the transaction, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lowell A. Seifter sold 4,770 shares of NBT Bancorp stock in a transaction on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the transaction, the director now directly owns 44,362 shares in the company, valued at approximately $1,663,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott Allen Kingsley acquired 1,000 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was purchased at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the transaction, the chief financial officer now owns 25,513 shares in the company, valued at $938,878.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 8,641 shares of company stock worth $319,806. Insiders own 3.32% of the company’s stock.

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.