NBT Bancorp Inc. (NASDAQ:NBTB) – Research analysts at Boenning Scattergood reduced their FY2020 earnings per share estimates for shares of NBT Bancorp in a report released on Tuesday, July 28th. Boenning Scattergood analyst E. Zwick now anticipates that the bank will post earnings per share of $1.77 for the year, down from their prior forecast of $2.13. Boenning Scattergood also issued estimates for NBT Bancorp’s Q4 2020 earnings at $0.43 EPS.
NBTB has been the subject of a number of other reports. Stephens started coverage on NBT Bancorp in a report on Monday, June 1st. They set an “equal weight” rating and a $35.00 price objective for the company. BidaskClub cut NBT Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 8th. Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Piper Sandler lifted their price target on NBT Bancorp from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. NBT Bancorp presently has an average rating of “Hold” and a consensus price target of $37.25.
Shares of NASDAQ NBTB opened at $29.79 on Friday. The stock has a market cap of $1.31 billion, a PE ratio of 13.67 and a beta of 0.67. The business has a fifty day moving average of $29.74 and a two-hundred day moving average of $33.13. NBT Bancorp has a 52-week low of $26.32 and a 52-week high of $41.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.90.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.13. The company had revenue of $115.46 million during the quarter, compared to analysts’ expectations of $112.55 million. NBT Bancorp had a return on equity of 8.62% and a net margin of 19.05%.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.27 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.63%. NBT Bancorp’s dividend payout ratio is 39.42%.
In other NBT Bancorp news, Director V Daniel Robinson II sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $30.80, for a total transaction of $308,000.00. Following the completion of the sale, the director now directly owns 13,582 shares of the company’s stock, valued at approximately $418,325.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.29% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Macquarie Group Ltd. raised its holdings in NBT Bancorp by 6.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,518,735 shares of the bank’s stock worth $61,600,000 after purchasing an additional 95,200 shares during the last quarter. State Street Corp raised its holdings in NBT Bancorp by 6.8% during the 1st quarter. State Street Corp now owns 1,436,808 shares of the bank’s stock worth $46,538,000 after purchasing an additional 91,757 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in NBT Bancorp by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 670,116 shares of the bank’s stock worth $27,180,000 after purchasing an additional 21,352 shares during the last quarter. Geode Capital Management LLC raised its holdings in NBT Bancorp by 7.6% during the 1st quarter. Geode Capital Management LLC now owns 650,065 shares of the bank’s stock worth $21,055,000 after purchasing an additional 46,186 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in NBT Bancorp by 0.8% during the 1st quarter. Invesco Ltd. now owns 588,093 shares of the bank’s stock worth $19,049,000 after purchasing an additional 4,713 shares during the last quarter. 56.00% of the stock is owned by hedge funds and other institutional investors.
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 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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