NBT Bancorp (NASDAQ:NBTB) Issues Quarterly Earnings Results

NBT Bancorp (NASDAQ:NBTB - Get Free Report) released its earnings results on Monday. The bank reported $0.68 EPS for the quarter, topping 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%. The firm had revenue of $192.33 million for the quarter, compared to the consensus estimate of $135.01 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share.

NBT Bancorp Trading Up 3.5 %

Shares of NBTB traded up $1.23 during midday trading on Tuesday, hitting $36.02. The stock had a trading volume of 226,134 shares, compared to its average volume of 208,993. NBT Bancorp has a 1 year low of $27.52 and a 1 year high of $43.77. The firm has a market cap of $1.70 billion, a PE ratio of 13.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.86 and a quick ratio of 0.86. The stock's 50 day moving average is $34.72 and its 200 day moving average is $36.21.

Insider Activity

In other news, CFO Scott Allen Kingsley bought 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, January 25th. The shares were acquired at an average price of $36.80 per share, with a total value of $36,800.00. Following the completion of the purchase, the chief financial officer now owns 25,513 shares in the company, valued at approximately $938,878.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Lowell A. Seifter sold 3,230 shares of the company's stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $36.96, for a total value of $119,380.80. Following the transaction, the director now directly 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 available at the SEC website. Also, CFO Scott Allen Kingsley purchased 1,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief financial officer now owns 25,513 shares of the company's stock, valued at approximately $938,878.40. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 8,641 shares of company stock valued at $319,806. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NBTB. Stephens reissued an "overweight" rating and issued a $42.00 target price on shares of NBT Bancorp in a report on Tuesday. Keefe, Bruyette & Woods lowered their target price on shares of NBT Bancorp from $45.00 to $41.00 and set a "market perform" rating on the stock in a report on Thursday, January 25th. Piper Sandler decreased their price target on shares of NBT Bancorp from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Thursday, January 25th. Janney Montgomery Scott raised shares of NBT Bancorp from a "neutral" rating to a "buy" rating and set a $39.00 price target on the stock in a research note on Thursday, March 21st. Finally, Raymond James upped their price target on shares of NBT Bancorp from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

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.