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

NBT Bancorp (NASDAQ:NBTB) announced its earnings results on Monday. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01, Yahoo Finance reports. NBT Bancorp had a net margin of 17.86% and a return on equity of 11.10%. During the same period in the prior year, the company earned $0.88 earnings per share.

NBT Bancorp Stock Up 0.5 %

Shares of NASDAQ NBTB opened at $34.79 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. NBT Bancorp has a 52 week low of $27.52 and a 52 week high of $43.77. The firm’s fifty day moving average is $34.72 and its 200 day moving average is $36.21. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 13.08 and a beta of 0.51.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Raymond James increased their target price on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Stephens upgraded shares of NBT Bancorp from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Wednesday, February 14th. Piper Sandler decreased their price objective 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. Keefe, Bruyette & Woods cut their target price 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. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.60.

Insider Buying and Selling

In other news, CFO Scott Allen Kingsley bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were bought at an average cost of $36.80 per share, with a total value of $36,800.00. Following the completion of the purchase, the chief financial officer now directly owns 25,513 shares in the company, valued at $938,878.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Lowell A. Seifter sold 3,230 shares of NBT Bancorp stock in a transaction 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 sale, the director now owns 49,132 shares in the company, valued at $1,815,918.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott Allen Kingsley purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average price of $36.80 per share, for a total transaction of $36,800.00. Following the acquisition, the chief financial officer now owns 25,513 shares of the company’s stock, valued at $938,878.40. The disclosure for this purchase can be found here. Insiders have sold a total of 8,641 shares of company stock valued at $319,806 over the last three months. 3.32% of the stock is owned by company 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.