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

NBT Bancorp (NASDAQ:NBTB) released its quarterly earnings data on Tuesday. The bank reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01, Yahoo Finance reports. The firm had revenue of $192.33 million during the quarter, compared to analyst estimates of $135.01 million. NBT Bancorp had a return on equity of 10.20% and a net margin of 16.71%. During the same quarter in the prior year, the company posted $0.88 earnings per share.

NBT Bancorp Trading Down 0.3 %

Shares of NBTB stock opened at $35.90 on Thursday. NBT Bancorp has a 1 year low of $27.52 and a 1 year high of $43.77. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $34.79 and its two-hundred day simple moving average is $36.23. The company has a market cap of $1.69 billion, a PE ratio of 13.86 and a beta of 0.51.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the company’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 transaction of $119,380.80. Following the sale, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the company’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 transaction of $119,380.80. Following the sale, the director now directly owns 49,132 shares in the company, valued at $1,815,918.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lowell A. Seifter sold 4,770 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $37.50, for a total value of $178,875.00. Following the sale, the director now owns 44,362 shares in the company, valued at $1,663,575. The disclosure for this sale can be found here. Insiders have sold a total of 8,641 shares of company stock worth $319,806 over the last ninety days. Company insiders own 3.32% of the company’s stock.

Analyst Ratings Changes

NBTB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods decreased their target price on NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating on the stock in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of NBT Bancorp in a research report on Tuesday. Piper Sandler decreased their target price on NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Janney Montgomery Scott upgraded NBT Bancorp from a “neutral” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, March 21st. Finally, Raymond James boosted their target price on NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

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.