NBT Bancorp (NASDAQ:NBTB) Releases Earnings Results, Misses Expectations By $0.01 EPS

NBT Bancorp (NASDAQ:NBTB) posted its quarterly earnings results on Monday. The bank reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01), Zacks reports. NBT Bancorp had a net margin of 17.37% and a return on equity of 9.36%. During the same period in the previous year, the company earned $0.72 earnings per share.

NBT Bancorp Stock Down 5.4 %

Shares of NASDAQ:NBTB opened at $46.09 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.17. NBT Bancorp has a 52-week low of $32.79 and a 52-week high of $52.44. The stock’s fifty day simple moving average is $48.80 and its 200-day simple moving average is $47.01. The company has a market capitalization of $2.17 billion, a P/E ratio of 16.23 and a beta of 0.53.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.34 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.36 annualized dividend and a dividend yield of 2.95%. NBT Bancorp’s dividend payout ratio is currently 45.95%.

Wall Street Analysts Forecast Growth

NBTB has been the topic of a number of research analyst reports. Stephens upgraded NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on NBT Bancorp from $50.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, January 16th. Finally, DA Davidson initiated coverage on NBT Bancorp in a research report on Thursday, December 12th. They set a “neutral” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Insider Activity

In related news, EVP Amy Wiles sold 500 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $51.31, for a total value of $25,655.00. Following the completion of the transaction, the executive vice president now directly owns 27,409 shares in the company, valued at approximately $1,406,355.79. This represents a 1.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack H. Webb sold 10,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $50.06, for a total value of $500,600.00. Following the completion of the transaction, the director now owns 45,018 shares of the company’s stock, valued at $2,253,601.08. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,694 shares of company stock worth $3,139,185 over the last three months. 3.32% of the stock is currently owned by corporate insiders.

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.