NBT Bancorp (NASDAQ:NBTB) Issues Earnings Results, Beats Estimates By $0.01 EPS

NBT Bancorp (NASDAQ:NBTB) issued its earnings results on Monday. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01, Yahoo Finance reports. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. During the same quarter in the prior year, the business earned $0.88 EPS.

NBT Bancorp Trading Up 0.5 %

NBTB stock opened at $34.79 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86. The company’s 50-day simple moving average is $34.72 and its 200 day simple moving average is $36.21. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77. The company has a market capitalization of $1.64 billion, a PE ratio of 13.08 and a beta of 0.51.

Analyst Ratings Changes

A number of brokerages recently weighed in on NBTB. Janney Montgomery Scott upgraded 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. Keefe, Bruyette & Woods decreased their price objective on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a report on Thursday, January 25th. Piper Sandler decreased their price objective on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Raymond James upped their price objective 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. Finally, Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.60.

Insider Activity at NBT Bancorp

In related news, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction dated 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 $1,663,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Scott Allen Kingsley acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was acquired at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the transaction, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the sale, the director now directly owns 44,362 shares of the company’s stock, valued at approximately $1,663,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,641 shares of company stock worth $319,806. Corporate 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.