FY2025 EPS Estimates for NBT Bancorp Boosted by DA Davidson

Key Points

• DA Davidson has raised its FY2025 earnings estimate for NBT Bancorp to $3.70 per share, up from an earlier forecast of $3.41, maintaining a "Buy" rating with a target price of $55.00.
• NBT Bancorp recently increased its quarterly dividend to $0.37 per share from $0.34, resulting in an annualized yield of 3.6%.
• Institutional investors have shown increased interest in NBT Bancorp, with TD Private Client Wealth LLC and Farther Finance Advisors LLC significantly boosting their stakes in the company.

NBT Bancorp Inc. (NASDAQ:NBTB - Free Report) - Analysts at DA Davidson lifted their FY2025 EPS estimates for NBT Bancorp in a research report issued on Thursday, July 31st. DA Davidson analyst M. Navas now anticipates that the bank will post earnings of $3.70 per share for the year, up from their prior estimate of $3.41. DA Davidson has a "Buy" rating and a $55.00 price objective on the stock. The consensus estimate for NBT Bancorp's current full-year earnings is $3.69 per share.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.06. NBT Bancorp had a net margin of 16.10% and a return on equity of 9.81%. The firm had revenue of $171.15 million for the quarter, compared to the consensus estimate of $171.04 million.

Several other equities research analysts have also issued reports on NBTB. Piper Sandler upgraded NBT Bancorp to a "neutral" rating and set a $47.00 price target on the stock in a research report on Tuesday, July 8th. Wall Street Zen raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $52.00.

NBT Bancorp Stock Down 0.5%

NASDAQ NBTB traded down $0.20 on Monday, reaching $40.65. The company had a trading volume of 55,078 shares, compared to its average volume of 245,254. NBT Bancorp has a 52-week low of $37.31 and a 52-week high of $52.44. The company's fifty day moving average is $41.98 and its 200 day moving average is $43.35. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.92 billion, a P/E ratio of 14.67 and a beta of 0.59.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently modified their holdings of the stock. TD Private Client Wealth LLC raised its position in shares of NBT Bancorp by 51.3% in the first quarter. TD Private Client Wealth LLC now owns 867 shares of the bank's stock worth $37,000 after acquiring an additional 294 shares during the period. Summit Investment Advisors Inc. raised its holdings in NBT Bancorp by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,815 shares of the bank's stock worth $230,000 after purchasing an additional 310 shares during the period. Bank of Montreal Can boosted its position in NBT Bancorp by 6.8% during the fourth quarter. Bank of Montreal Can now owns 7,278 shares of the bank's stock worth $348,000 after purchasing an additional 461 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of NBT Bancorp by 1.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 33,218 shares of the bank's stock worth $1,425,000 after buying an additional 496 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of NBT Bancorp by 38.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,951 shares of the bank's stock valued at $81,000 after buying an additional 546 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company's stock.

Insider Buying and Selling at NBT Bancorp

In other news, Director John H. Watt, Jr. sold 7,869 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $42.02, for a total value of $330,655.38. Following the completion of the transaction, the director directly owned 116,027 shares of the company's stock, valued at approximately $4,875,454.54. The trade was a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.03% of the company's stock.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from NBT Bancorp's previous quarterly dividend of $0.34. NBT Bancorp's dividend payout ratio is 49.10%.

About NBT Bancorp

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.