NBT Bancorp (NBTB) to Release Earnings on Monday

NBT Bancorp (NASDAQ:NBTB) is set to post its quarterly earnings results after the market closes on Monday, April 22nd. Analysts expect NBT Bancorp to post earnings of $0.67 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.02). The business had revenue of $137.66 million during the quarter, compared to analyst estimates of $138.87 million. NBT Bancorp had a return on equity of 11.10% and a net margin of 17.86%. On average, analysts expect NBT Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NBT Bancorp Price Performance

Shares of NASDAQ:NBTB opened at $34.61 on Friday. The firm has a 50 day moving average of $34.72 and a 200-day moving average of $36.12. The stock has a market capitalization of $1.63 billion, a PE ratio of 13.01 and a beta of 0.51. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. NBT Bancorp has a 12 month low of $27.52 and a 12 month high of $43.77.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, February 29th. NBT Bancorp’s payout ratio is presently 48.12%.

Insider Buying and Selling

In related news, Director Lowell A. Seifter sold 3,230 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $36.96, for a total transaction of $119,380.80. Following the completion of the transaction, the director now directly owns 49,132 shares in the company, valued at approximately $1,815,918.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NBT Bancorp news, Director Lowell A. Seifter sold 3,230 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were 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 of the company’s stock, valued at approximately $1,815,918.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lowell A. Seifter sold 4,770 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $37.50, for a total transaction of $178,875.00. Following the sale, the director now directly owns 44,362 shares in the company, valued at $1,663,575. The disclosure for this sale can be found here. Insiders sold a total of 8,641 shares of company stock worth $319,806 in the last three months. 3.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in NBT Bancorp by 5.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,387 shares of the bank’s stock worth $1,609,000 after acquiring an additional 1,949 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of NBT Bancorp by 0.6% in the 4th quarter. Legal & General Group Plc now owns 133,009 shares of the bank’s stock valued at $5,574,000 after purchasing an additional 836 shares during the last quarter. Barclays PLC boosted its stake in shares of NBT Bancorp by 46.3% in the 4th quarter. Barclays PLC now owns 93,325 shares of the bank’s stock valued at $3,911,000 after purchasing an additional 29,526 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of NBT Bancorp by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 5,642,447 shares of the bank’s stock valued at $236,475,000 after purchasing an additional 126,572 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of NBT Bancorp by 1.1% in the 4th quarter. Nuveen Asset Management LLC now owns 121,233 shares of the bank’s stock valued at $5,081,000 after purchasing an additional 1,289 shares during the last quarter. 58.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.