NBT Bancorp (NASDAQ:NBTB) Releases Quarterly Earnings Results

NBT Bancorp (NASDAQ:NBTB) announced its quarterly earnings data on Tuesday. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02, FiscalAI reports. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. The company had revenue of $195.03 million during the quarter, compared to the consensus estimate of $193.83 million.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $51.97 on Thursday. The firm has a market capitalization of $2.70 billion, a PE ratio of 12.71 and a beta of 0.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. NBT Bancorp has a 1-year low of $39.44 and a 1-year high of $54.50. The business’s 50 day moving average is $51.32 and its 200-day moving average is $47.58.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.60 dividend on an annualized basis and a yield of 3.1%. NBT Bancorp’s dividend payout ratio (DPR) is 39.12%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NBTB. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a research note on Monday, August 3rd. DA Davidson lifted their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Stephens lowered NBT Bancorp from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $52.00 to $55.00 in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of NBT Bancorp in a report on Monday, October 19th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.10.

About NBT Bancorp

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.