NBT Bancorp Inc. (NASDAQ:NBTB) Expected to Post Quarterly Sales of $123.57 Million

Wall Street analysts expect that NBT Bancorp Inc. (NASDAQ:NBTBGet Rating) will announce sales of $123.57 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for NBT Bancorp’s earnings. The lowest sales estimate is $121.20 million and the highest is $126.00 million. NBT Bancorp reported sales of $118.49 million during the same quarter last year, which indicates a positive year over year growth rate of 4.3%. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that NBT Bancorp will report full year sales of $493.00 million for the current financial year, with estimates ranging from $487.10 million to $501.40 million. For the next financial year, analysts expect that the business will post sales of $515.53 million, with estimates ranging from $506.60 million to $532.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for NBT Bancorp.

NBT Bancorp (NASDAQ:NBTBGet Rating) last released its earnings results on Monday, April 25th. The bank reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. NBT Bancorp had a net margin of 30.64% and a return on equity of 12.66%. The firm had revenue of $123.01 million during the quarter, compared to the consensus estimate of $120.91 million. During the same period in the previous year, the firm earned $0.92 earnings per share.

Separately, StockNews.com initiated coverage on shares of NBT Bancorp in a research note on Thursday, March 31st. They set a “hold” rating for the company.

NBTB opened at $35.94 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.18. NBT Bancorp has a 52-week low of $32.66 and a 52-week high of $42.33. The company has a 50 day moving average of $36.26 and a two-hundred day moving average of $37.72. The company has a market cap of $1.54 billion, a P/E ratio of 10.15 and a beta of 0.58.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a $0.28 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 3.12%. NBT Bancorp’s dividend payout ratio (DPR) is presently 31.64%.

In other news, CFO Scott Allen Kingsley bought 3,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The stock was acquired at an average cost of $35.60 per share, for a total transaction of $106,800.00. Following the completion of the purchase, the chief financial officer now owns 17,215 shares of the company’s stock, valued at $612,854. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 3.55% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in NBT Bancorp by 0.9% in the first quarter. BlackRock Inc. now owns 6,393,473 shares of the bank’s stock valued at $230,994,000 after acquiring an additional 56,332 shares in the last quarter. Vanguard Group Inc. raised its holdings in NBT Bancorp by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,766,151 shares of the bank’s stock valued at $172,201,000 after acquiring an additional 51,889 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NBT Bancorp by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,925,034 shares of the bank’s stock valued at $69,552,000 after acquiring an additional 53,026 shares in the last quarter. State Street Corp raised its holdings in NBT Bancorp by 9.1% in the first quarter. State Street Corp now owns 1,909,226 shares of the bank’s stock valued at $68,980,000 after acquiring an additional 159,606 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in NBT Bancorp by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 597,535 shares of the bank’s stock valued at $21,582,000 after acquiring an additional 3,306 shares in the last quarter. 55.74% of the stock is currently owned by hedge funds and other institutional investors.

About NBT Bancorp (Get Rating)

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 and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.

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Earnings History and Estimates for NBT Bancorp (NASDAQ:NBTB)

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