Wall Street brokerages expect NBT Bancorp Inc. (NASDAQ:NBTB) to announce earnings of $0.66 per share for the current quarter, Zacks reports. Two analysts have made estimates for NBT Bancorp’s earnings. The highest EPS estimate is $0.66 and the lowest is $0.65. NBT Bancorp reported earnings of $0.64 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The business is scheduled to report its next quarterly earnings report on Monday, July 22nd.
According to Zacks, analysts expect that NBT Bancorp will report full year earnings of $2.63 per share for the current year, with EPS estimates ranging from $2.61 to $2.64. For the next financial year, analysts forecast that the company will post earnings of $2.67 per share, with EPS estimates ranging from $2.65 to $2.68. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, April 22nd. The bank reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The company had revenue of $111.51 million during the quarter, compared to analyst estimates of $112.00 million. NBT Bancorp had a net margin of 24.00% and a return on equity of 11.50%. During the same quarter last year, the business posted $0.59 earnings per share.
In other news, CFO Michael J. Chewens sold 5,103 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $37.69, for a total transaction of $192,332.07. Following the transaction, the chief financial officer now directly owns 54,704 shares in the company, valued at approximately $2,061,793.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.29% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in NBT Bancorp by 3.7% during the 4th quarter. Principal Financial Group Inc. now owns 365,558 shares of the bank’s stock worth $12,645,000 after purchasing an additional 13,080 shares in the last quarter. Rhumbline Advisers increased its position in NBT Bancorp by 0.8% during the 1st quarter. Rhumbline Advisers now owns 128,903 shares of the bank’s stock worth $4,642,000 after purchasing an additional 1,068 shares in the last quarter. Walthausen & Co. LLC increased its position in NBT Bancorp by 16.8% during the 1st quarter. Walthausen & Co. LLC now owns 212,120 shares of the bank’s stock worth $7,638,000 after purchasing an additional 30,520 shares in the last quarter. Texas Permanent School Fund increased its position in NBT Bancorp by 4.0% during the 4th quarter. Texas Permanent School Fund now owns 28,575 shares of the bank’s stock worth $988,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in NBT Bancorp by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 18,568 shares of the bank’s stock worth $642,000 after purchasing an additional 724 shares in the last quarter. 54.43% of the stock is owned by institutional investors and hedge funds.
Shares of NBTB stock opened at $36.04 on Wednesday. The firm has a 50 day simple moving average of $37.10. The company has a market capitalization of $1.58 billion, a PE ratio of 14.08 and a beta of 0.87. NBT Bancorp has a 52-week low of $30.36 and a 52-week high of $41.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.
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 commercial and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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