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

NBT Bancorp (NASDAQ:NBTB) posted its quarterly earnings data on Monday. The bank reported $0.68 earnings per share for the quarter, beating 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 period last year, the firm earned $0.88 earnings per share.

NBT Bancorp Price Performance

NBT Bancorp stock opened at $34.79 on Tuesday. NBT Bancorp has a 1 year low of $27.52 and a 1 year high of $43.77. The firm has a 50 day moving average price of $34.72 and a 200 day moving average price of $36.21. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 13.08 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NBTB shares. Keefe, Bruyette & Woods cut their price objective on shares of NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Janney Montgomery Scott raised shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, March 21st. Raymond James boosted their price objective on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Stephens raised shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, February 14th. Finally, Piper Sandler lowered their target price on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NBT Bancorp has an average rating of “Moderate Buy” and a consensus price target of $41.60.

Insider Activity at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total transaction of $178,875.00. Following the completion of the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the sale, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction that occurred on 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 owns 44,362 shares of the company’s stock, valued at $1,663,575. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,641 shares of company stock worth $319,806. 3.32% of the stock is owned by company insiders.

About NBT Bancorp

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.