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

NBT Bancorp (NASDAQ:NBTB) released its earnings results on Tuesday. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01, Yahoo Finance reports. The business had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. NBT Bancorp had a net margin of 16.71% and a return on equity of 10.20%. During the same period last year, the firm posted $0.88 earnings per share.

NBT Bancorp Price Performance

NASDAQ NBTB opened at $35.90 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.69 billion, a PE ratio of 13.86 and a beta of 0.51. The company has a 50 day moving average price of $34.79 and a two-hundred day moving average price of $36.23. NBT Bancorp has a 12-month low of $27.52 and a 12-month high of $43.77.

Analyst Ratings Changes

Several analysts 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 price target for the company in a report on Thursday, March 21st. Stephens restated an “overweight” rating and set a $42.00 price target on shares of NBT Bancorp in a report on Tuesday. Raymond James raised their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Keefe, Bruyette & Woods decreased their price target on shares of NBT Bancorp from $41.00 to $39.00 and set a “market perform” rating for the company in a report on Wednesday. Finally, Piper Sandler decreased their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.20.

Insider Buying and Selling at NBT Bancorp

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

NBT Bancorp Company Profile

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.