NBT Bancorp (NASDAQ:NBTB) Posts Earnings Results, Beats Expectations By $0.02 EPS

NBT Bancorp (NASDAQ:NBTB) posted its earnings results on Monday. The bank reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02, Zacks reports. The company had revenue of $202.00 million for the quarter, compared to the consensus estimate of $144.70 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period in the previous year, the business earned $0.84 earnings per share.

NBT Bancorp Trading Up 0.4 %

Shares of NASDAQ NBTB traded up $0.18 during midday trading on Wednesday, hitting $45.47. The company’s stock had a trading volume of 258,098 shares, compared to its average volume of 203,540. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $45.37 and its two-hundred day moving average is $41.58. NBT Bancorp has a 12-month low of $32.79 and a 12-month high of $50.83. The firm has a market cap of $2.14 billion, a P/E ratio of 17.62 and a beta of 0.50.

NBT Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.99%. NBT Bancorp’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NBTB shares. Stephens reiterated an “equal weight” rating and issued a $49.00 target price on shares of NBT Bancorp in a research report on Tuesday, September 10th. Raymond James downgraded NBT Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, NBT Bancorp has an average rating of “Hold” and an average target price of $42.60.

Insider Transactions at NBT Bancorp

In other news, EVP Amy Wiles sold 556 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the sale, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Martin Randolph Sparks sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now directly owns 15,003 shares in the company, valued at approximately $725,695.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Amy Wiles sold 556 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $25,020.00. Following the completion of the transaction, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,556 shares of company stock worth $4,527,790. 3.32% of the stock is currently 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.