NBT Bancorp (NASDAQ:NBTB) Issues Quarterly Earnings Results

NBT Bancorp (NASDAQ:NBTB) announced its quarterly earnings results on Monday. The bank reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01), Zacks reports. NBT Bancorp had a return on equity of 9.36% and a net margin of 17.37%. During the same period last year, the business earned $0.72 EPS.

NBT Bancorp Price Performance

NBTB stock opened at $46.09 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a 1 year low of $32.79 and a 1 year high of $52.44. The firm has a market cap of $2.17 billion, a P/E ratio of 16.23 and a beta of 0.53. The stock has a 50-day simple moving average of $48.80 and a 200-day simple moving average of $47.01.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.34 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.95%. NBT Bancorp’s dividend payout ratio (DPR) is currently 45.95%.

Analyst Ratings Changes

Several brokerages have commented on NBTB. Keefe, Bruyette & Woods upped their price target on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson began coverage on NBT Bancorp in a research note on Thursday, December 12th. They set a “neutral” rating and a $60.00 price target for the company. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Wednesday. Finally, StockNews.com lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NBT Bancorp has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Insider Activity

In related news, EVP Amy Wiles sold 500 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the transaction, the executive vice president now owns 27,409 shares of the company’s stock, valued at approximately $1,406,355.79. This represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Timothy E. Delaney sold 40,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $51.47, for a total value of $2,058,800.00. Following the completion of the transaction, the director now directly owns 38,853 shares of the company’s stock, valued at $1,999,763.91. This represents a 50.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,694 shares of company stock worth $3,139,185. 3.32% of the stock is currently owned by corporate 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.