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

NBT Bancorp (NASDAQ:NBTB) posted its quarterly earnings data on Monday. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01, Yahoo Finance reports. NBT Bancorp had a return on equity of 10.41% and a net margin of 16.71%. The firm had revenue of $192.33 million during the quarter, compared to the consensus estimate of $135.01 million. During the same period in the prior year, the company earned $0.88 EPS.

NBT Bancorp Stock Performance

Shares of NBT Bancorp stock opened at $36.02 on Wednesday. The business has a 50-day moving average of $34.77 and a 200 day moving average of $36.23. NBT Bancorp has a 12 month low of $27.52 and a 12 month high of $43.77. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.91 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86.

Wall Street Analyst Weigh In

NBTB has been the subject of several recent research reports. Piper Sandler reduced their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 25th. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Thursday, March 21st. Keefe, Bruyette & Woods cut their target price on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a research note on Thursday, January 25th. Raymond James raised their target price on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp presently has an average rating of “Moderate Buy” and an average price target of $41.60.

Insider Activity at NBT Bancorp

In related news, CFO Scott Allen Kingsley purchased 1,000 shares of NBT Bancorp stock in a transaction on Thursday, January 25th. The shares were bought at an average price of $36.80 per share, with a total value of $36,800.00. Following the transaction, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at $938,878.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value of $178,875.00. Following the completion of the sale, the director now owns 44,362 shares of the company’s stock, valued at $1,663,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scott Allen Kingsley purchased 1,000 shares of NBT Bancorp stock in a transaction that occurred on Thursday, January 25th. The stock was acquired at an average cost of $36.80 per share, with a total value of $36,800.00. Following the acquisition, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The disclosure for this purchase can be found here. Insiders sold 8,641 shares of company stock worth $319,806 in the last three months. 3.32% of the stock is 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.