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

NBT Bancorp (NASDAQ:NBTB) issued its quarterly earnings results on Monday. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01, Yahoo Finance reports. NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. During the same quarter last year, the business earned $0.88 EPS.

NBT Bancorp Stock Up 0.5 %

Shares of NBTB opened at $34.79 on Tuesday. The company has a market capitalization of $1.64 billion, a P/E ratio of 13.08 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. NBT Bancorp has a one year low of $27.52 and a one year high of $43.77. The business’s 50 day simple moving average is $34.72 and its 200-day simple moving average is $36.21.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NBTB shares. Keefe, Bruyette & Woods lowered their price target on NBT Bancorp from $45.00 to $41.00 and set a “market perform” rating on the stock in a research note on Thursday, January 25th. Piper Sandler decreased their price objective on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, January 25th. Janney Montgomery Scott raised NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, March 21st. Stephens raised NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, February 14th. Finally, Raymond James lifted their price objective on NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, NBT Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.60.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, CFO Scott Allen Kingsley bought 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, January 25th. The shares were acquired at an average cost of $36.80 per share, with a total value of $36,800.00. Following the acquisition, the chief financial officer now directly owns 25,513 shares of the company’s stock, valued at $938,878.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lowell A. Seifter sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $36.96, for a total value of $119,380.80. Following the transaction, the director now directly owns 49,132 shares of the company’s stock, valued at approximately $1,815,918.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott Allen Kingsley bought 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, January 25th. The stock was acquired at an average cost of $36.80 per share, for a total transaction of $36,800.00. Following the completion of the acquisition, the chief financial officer now directly owns 25,513 shares in the company, valued at $938,878.40. The disclosure for this purchase can be found here. Insiders have sold 8,641 shares of company stock valued at $319,806 in the last three months. 3.32% of the stock is owned by corporate insiders.

NBT Bancorp Company Profile

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.