NBT Bancorp Inc. (NASDAQ:NBTB) Expected to Announce Quarterly Sales of $121.87 Million

Equities analysts expect NBT Bancorp Inc. (NASDAQ:NBTB) to announce sales of $121.87 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for NBT Bancorp’s earnings, with estimates ranging from $120.54 million to $123.20 million. NBT Bancorp posted sales of $118.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is expected to announce its next earnings results on Wednesday, January 26th.

According to Zacks, analysts expect that NBT Bancorp will report full year sales of $474.18 million for the current fiscal year, with estimates ranging from $472.56 million to $475.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $475.54 million, with estimates ranging from $475.50 million to $475.57 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NBT Bancorp.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 25th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $118.00 million during the quarter, compared to analysts’ expectations of $120.37 million. NBT Bancorp had a return on equity of 12.62% and a net margin of 30.86%. During the same period in the previous year, the firm posted $0.80 earnings per share.

Several equities analysts recently issued reports on the company. Piper Sandler raised NBT Bancorp from a “neutral” rating to an “overweight” rating and set a $40.00 price objective for the company in a report on Wednesday, July 28th. Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, October 29th.

NBTB stock traded down $0.22 during midday trading on Friday, hitting $38.09. 105,437 shares of the stock were exchanged, compared to its average volume of 134,860. The stock’s 50-day moving average price is $36.76 and its 200-day moving average price is $36.61. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 10.98 and a beta of 0.67. NBT Bancorp has a fifty-two week low of $29.89 and a fifty-two week high of $42.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 30th. NBT Bancorp’s payout ratio is 32.28%.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in NBT Bancorp by 0.6% during the second quarter. Vanguard Group Inc. now owns 4,700,548 shares of the bank’s stock worth $169,078,000 after buying an additional 29,870 shares in the last quarter. State Street Corp grew its position in shares of NBT Bancorp by 5.9% in the second quarter. State Street Corp now owns 1,819,159 shares of the bank’s stock valued at $65,435,000 after purchasing an additional 100,554 shares during the period. Geode Capital Management LLC grew its position in shares of NBT Bancorp by 3.6% in the second quarter. Geode Capital Management LLC now owns 742,314 shares of the bank’s stock valued at $26,701,000 after purchasing an additional 25,475 shares during the period. Bank of New York Mellon Corp grew its position in shares of NBT Bancorp by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 597,535 shares of the bank’s stock valued at $21,582,000 after purchasing an additional 3,306 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NBT Bancorp by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 390,798 shares of the bank’s stock valued at $14,057,000 after purchasing an additional 11,078 shares during the period. 54.24% of the stock is owned by institutional investors.

NBT Bancorp Company Profile

NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.

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Earnings History and Estimates for NBT Bancorp (NASDAQ:NBTB)

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