NBT Bancorp (NBTB) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

NBT Bancorp (NASDAQ:NBTB) issued its quarterly earnings results on Monday. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.03), Bloomberg Earnings reports. NBT Bancorp had a net margin of 20.02% and a return on equity of 9.01%. During the same period last year, the firm earned $0.45 EPS.

NBT Bancorp (NASDAQ:NBTB) traded up $0.05 during trading hours on Monday, reaching $37.76. The company’s stock had a trading volume of 83,113 shares, compared to its average volume of 142,002. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $1,640.00, a price-to-earnings ratio of 19.77 and a beta of 0.89. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $42.55.

In other NBT Bancorp news, CFO Michael J. Chewens sold 4,190 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $38.41, for a total value of $160,937.90. Following the sale, the chief financial officer now owns 59,443 shares in the company, valued at $2,283,205.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director V Daniel Robinson II sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $38.56, for a total value of $964,000.00. Following the completion of the sale, the director now owns 10,141 shares in the company, valued at approximately $391,036.96. The disclosure for this sale can be found here. Insiders sold 69,190 shares of company stock worth $2,670,838 in the last 90 days. Corporate insiders own 3.07% of the company’s stock.

NBT Bancorp announced that its board has initiated a stock repurchase plan on Monday, October 23rd that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Several research analysts recently commented on NBTB shares. Zacks Investment Research raised NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Thursday, October 26th. BidaskClub cut NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Sandler O’Neill set a $38.00 price target on NBT Bancorp and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $38.00 price target on shares of NBT Bancorp in a research report on Tuesday, October 3rd. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.25.

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NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company. The Company conducts its business through NBT Bank, National Association (the Bank) and also through its other subsidiaries, which includes providing commercial banking and financial services to customers in its market area, including central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and Portland, Maine area.

Earnings History for NBT Bancorp (NASDAQ:NBTB)

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