NBT Bancorp (NASDAQ:NBTB – Get Free Report) 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
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.
View Our Latest Stock Report on NBTB
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.
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