NBT Bancorp (NASDAQ:NBTB) Announces Earnings Results

NBT Bancorp (NASDAQ:NBTB) posted its earnings results on Monday. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01), Yahoo Finance reports. The firm had revenue of $194.00 million during the quarter, compared to the consensus estimate of $139.02 million. NBT Bancorp had a return on equity of 9.73% and a net margin of 16.15%. During the same quarter in the previous year, the company earned $0.80 EPS.

NBT Bancorp Price Performance

NBTB stock opened at $48.29 on Thursday. The firm has a 50 day moving average of $38.61 and a 200-day moving average of $36.81. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.28 billion, a P/E ratio of 18.64 and a beta of 0.52. NBT Bancorp has a 12 month low of $30.31 and a 12 month high of $50.83.

NBT Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Friday, August 30th. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.32. NBT Bancorp’s payout ratio is presently 49.42%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, EVP Sarah A. Halliday sold 1,325 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $35.66, for a total transaction of $47,249.50. Following the sale, the executive vice president now owns 32,402 shares in the company, valued at $1,155,455.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NBTB. Raymond James cut shares of NBT Bancorp from an “outperform” rating to a “market perform” rating in a report on Wednesday. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $42.00 to $49.00 in a report on Thursday. Finally, Keefe, Bruyette & Woods dropped their price target on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.60.

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.