NBT Bancorp (NASDAQ:NBTB) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• NBT Bancorp reported quarterly EPS of $1.11, exceeding analysts’ $1.09 consensus estimate by $0.02. The company posted an 11.27% return on equity and a 22.58% net margin.
• Shares fell 0.5% to $52.89, while analysts maintained a consensus “Hold” rating with an average price target of $54.10; targets ranged from $54 to $59.
• Two executive vice presidents sold NBT Bancorp shares totaling approximately $730,710 in late July, reducing their individual holdings by roughly 27% to 29%.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) issued its quarterly earnings data on Tuesday. The bank reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates 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%

Shares of NBT Bancorp stock traded down $0.24 on Tuesday, hitting $52.89. 309,697 shares of the company's stock traded hands, compared to its average volume of 297,097. The stock has a market capitalization of $2.75 billion, a PE ratio of 12.93 and a beta of 0.49. The firm's 50-day moving average price is $51.35 and its two-hundred day moving average price is $47.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. NBT Bancorp has a one year low of $39.44 and a one year high of $54.50.

Insider Transactions at NBT Bancorp

In other news, EVP Sarah A. Halliday sold 9,000 shares of NBT Bancorp stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ruth H. 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 completion of the transaction, the executive vice president directly 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 SEC filing for this sale provides additional information. 2.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About NBT Bancorp

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.

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