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

NBT Bancorp (NASDAQ:NBTB) released its earnings results on Monday. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01, Yahoo Finance reports. The business had revenue of $192.33 million for the quarter, compared to analysts’ expectations of $135.01 million. NBT Bancorp had a return on equity of 10.41% and a net margin of 16.71%. During the same quarter in the prior year, the firm earned $0.88 earnings per share.

NBT Bancorp Trading Up 3.5 %

Shares of NBTB stock opened at $36.02 on Wednesday. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $34.77 and its 200 day moving average is $36.23. The stock has a market capitalization of $1.70 billion, a P/E ratio of 13.91 and a beta of 0.51.

Insider Buying and Selling

In related news, CFO Scott Allen Kingsley bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were bought at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the acquisition, the chief financial officer now owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NBT Bancorp news, CFO Scott Allen Kingsley purchased 1,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were acquired at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the purchase, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at approximately $938,878.40. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction 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 transaction, the director now owns 49,132 shares in the company, valued at approximately $1,815,918.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,641 shares of company stock worth $319,806. 3.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NBTB. Janney Montgomery Scott upgraded shares of NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Thursday, March 21st. Keefe, Bruyette & Woods cut their price target 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. Stephens restated an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a research report on Tuesday. Raymond James increased their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Finally, Piper Sandler dropped 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $41.60.

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.