NBT Bancorp (NASDAQ:NBTB) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

NBT Bancorp (NASDAQ:NBTB) released its earnings results on Monday. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01), Zacks reports. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%.

NBT Bancorp Stock Performance

NBT Bancorp stock traded up $0.68 during mid-day trading on Monday, reaching $48.70. 192,109 shares of the stock traded hands, compared to its average volume of 209,813. The stock has a market capitalization of $2.30 billion, a PE ratio of 17.15 and a beta of 0.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day moving average is $48.86 and its 200-day moving average is $46.93. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $52.44.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NBTB shares. StockNews.com cut NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, January 16th. DA Davidson started coverage on shares of NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.75.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director John H. Watt, Jr. sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $45.45, for a total transaction of $909,000.00. Following the sale, the director now owns 143,101 shares in the company, valued at approximately $6,503,940.45. This trade represents a 12.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy E. Delaney sold 40,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now owns 38,853 shares in the company, valued at $1,999,763.91. The trade was a 50.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,694 shares of company stock worth $4,048,185 in the last three months. 3.32% of the stock is currently owned by company insiders.

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.