Zacks: Brokerages Anticipate NBT Bancorp Inc. (NBTB) Will Announce Quarterly Sales of $110.75 Million
Equities research analysts predict that NBT Bancorp Inc. (NASDAQ:NBTB) will announce $110.75 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NBT Bancorp’s earnings, with estimates ranging from $110.70 million to $110.80 million. NBT Bancorp posted sales of $104.92 million during the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The company is scheduled to announce its next earnings report on Monday, January 28th.
According to Zacks, analysts expect that NBT Bancorp will report full-year sales of $436.35 million for the current fiscal year, with estimates ranging from $436.30 million to $436.40 million. For the next fiscal year, analysts forecast that the business will report sales of $453.75 million, with estimates ranging from $453.20 million to $454.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Monday, October 22nd. The bank reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $110.91 million for the quarter, compared to analyst estimates of $110.87 million. NBT Bancorp had a net margin of 21.87% and a return on equity of 10.91%. NBT Bancorp’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS.
NBTB traded up $0.78 on Friday, hitting $38.29. The company had a trading volume of 60,200 shares, compared to its average volume of 93,508. The firm has a market cap of $1.64 billion, a P/E ratio of 19.44 and a beta of 0.83. NBT Bancorp has a 1 year low of $34.05 and a 1 year high of $41.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.26 dividend. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, November 29th. NBT Bancorp’s payout ratio is 50.76%.
A number of institutional investors and hedge funds have recently modified their holdings of NBTB. BlackRock Inc. increased its stake in NBT Bancorp by 6.1% during the second quarter. BlackRock Inc. now owns 6,022,871 shares of the bank’s stock worth $229,772,000 after purchasing an additional 344,106 shares during the period. Millennium Management LLC increased its stake in NBT Bancorp by 34.7% during the first quarter. Millennium Management LLC now owns 261,943 shares of the bank’s stock worth $9,294,000 after purchasing an additional 67,485 shares during the period. Dimensional Fund Advisors LP increased its stake in NBT Bancorp by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,148,956 shares of the bank’s stock worth $81,983,000 after purchasing an additional 44,075 shares during the period. Wells Fargo & Company MN increased its stake in NBT Bancorp by 48.5% during the third quarter. Wells Fargo & Company MN now owns 124,910 shares of the bank’s stock worth $4,794,000 after purchasing an additional 40,810 shares during the period. Finally, WBI Investments Inc. purchased a new stake in NBT Bancorp during the second quarter worth about $1,082,000. Hedge funds and other institutional investors own 52.25% of the company’s stock.
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 commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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