Zacks: Brokerages Anticipate NBT Bancorp Inc. (NBTB) Will Announce Earnings of $0.65 Per Share
Brokerages expect NBT Bancorp Inc. (NASDAQ:NBTB) to announce earnings per share (EPS) of $0.65 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for NBT Bancorp’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.66. NBT Bancorp posted earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 30%. The business is expected to issue its next quarterly earnings report on Monday, January 28th.
According to Zacks, analysts expect that NBT Bancorp will report full-year earnings of $2.55 per share for the current year, with EPS estimates ranging from $2.54 to $2.56. For the next fiscal year, analysts forecast that the firm will post earnings of $2.62 per share, with EPS estimates ranging from $2.60 to $2.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, October 22nd. The bank reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $110.91 million during the quarter, compared to the consensus estimate of $110.87 million. NBT Bancorp had a net margin of 21.87% and a return on equity of 10.91%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in NBT Bancorp by 3.9% in the 3rd quarter. BlackRock Inc. now owns 6,258,533 shares of the bank’s stock valued at $240,201,000 after acquiring an additional 235,662 shares during the last quarter. Vanguard Group Inc. lifted its holdings in NBT Bancorp by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,353,893 shares of the bank’s stock valued at $167,102,000 after acquiring an additional 85,263 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in NBT Bancorp by 2.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,148,956 shares of the bank’s stock valued at $81,983,000 after acquiring an additional 44,075 shares during the last quarter. Northern Trust Corp lifted its holdings in NBT Bancorp by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,108,867 shares of the bank’s stock valued at $42,304,000 after acquiring an additional 10,087 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in NBT Bancorp by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 642,946 shares of the bank’s stock valued at $24,676,000 after acquiring an additional 25,965 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.
NBTB stock traded up $0.04 during trading on Friday, hitting $36.37. The company had a trading volume of 71,356 shares, compared to its average volume of 92,556. The company has a market capitalization of $1.59 billion, a P/E ratio of 18.46 and a beta of 0.82. NBT Bancorp has a fifty-two week low of $34.05 and a fifty-two week high of $41.88. The company has a quick ratio of 0.85, a current 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. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.04 annualized dividend and a yield of 2.86%. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.25. NBT Bancorp’s dividend payout ratio is presently 52.79%.
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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