NBT Bancorp (NASDAQ:NBTB) Announces Earnings Results

NBT Bancorp (NASDAQ:NBTB) issued its earnings results on Tuesday. The bank reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.02, FiscalAI reports. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.

NBT Bancorp Trading Down 0.5%

NBTB traded down $0.24 on Tuesday, reaching $52.89. 309,697 shares of the company’s stock were exchanged, compared to its average volume of 297,097. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 12.93 and a beta of 0.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. NBT Bancorp has a twelve month low of $39.44 and a twelve month high of $54.50. The company’s 50 day moving average is $51.35 and its 200-day moving average is $47.49.

Insider Transactions at NBT Bancorp

In other news, EVP Ruth Mahoney sold 4,500 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total transaction of $244,350.00. Following the sale, the executive vice president owned 11,928 shares in the company, valued at $647,690.40. This trade represents a 27.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sarah Halliday sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total value of $486,360.00. Following the sale, the executive vice president owned 22,054 shares of the company’s stock, valued at approximately $1,191,798.16. This trade represents a 28.98% decrease in their position. The SEC filing for this sale provides additional information. 2.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a report on Monday, October 19th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $52.00 to $55.00 in a report on Thursday, July 30th. DA Davidson boosted their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 target price (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, NBT Bancorp presently has a consensus rating of “Hold” and a consensus price target of $54.10.

NBT Bancorp Company Profile

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.