NBT Bancorp Inc. (NASDAQ:NBTB) – Stock analysts at Piper Sandler lowered their Q1 2020 earnings per share (EPS) estimates for NBT Bancorp in a report released on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now expects that the bank will earn $0.56 per share for the quarter, down from their previous estimate of $0.65. Piper Sandler also issued estimates for NBT Bancorp’s Q2 2020 earnings at $0.53 EPS, Q3 2020 earnings at $0.57 EPS, Q4 2020 earnings at $0.60 EPS, Q1 2021 earnings at $0.57 EPS, Q2 2021 earnings at $0.60 EPS, Q3 2021 earnings at $0.60 EPS and Q4 2021 earnings at $0.59 EPS.
NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. NBT Bancorp had a return on equity of 11.19% and a net margin of 23.66%. The company had revenue of $113.42 million for the quarter, compared to analyst estimates of $110.50 million. During the same quarter last year, the firm earned $0.65 EPS.
Several other analysts have also commented on NBTB. BidaskClub raised NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Investment Research cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th.
Shares of NASDAQ:NBTB opened at $33.39 on Thursday. NBT Bancorp has a 1-year low of $27.54 and a 1-year high of $41.50. The firm has a market capitalization of $1.35 billion, a PE ratio of 12.19 and a beta of 0.85. The business’s 50 day moving average is $35.20 and its 200-day moving average is $38.04. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15.
Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of NBT Bancorp during the fourth quarter worth approximately $11,648,000. Macquarie Group Ltd. boosted its holdings in shares of NBT Bancorp by 6.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,518,735 shares of the bank’s stock worth $61,600,000 after acquiring an additional 95,200 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in NBT Bancorp by 79.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 145,329 shares of the bank’s stock worth $5,895,000 after purchasing an additional 64,474 shares in the last quarter. Renaissance Technologies LLC boosted its stake in NBT Bancorp by 44.4% in the fourth quarter. Renaissance Technologies LLC now owns 182,900 shares of the bank’s stock worth $7,418,000 after purchasing an additional 56,200 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new stake in shares of NBT Bancorp during the fourth quarter worth $2,212,000. Institutional investors and hedge funds own 56.78% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, May 29th. NBT Bancorp’s payout ratio is 39.42%.
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 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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