NBT Bancorp Inc. (NBTB) Announces Quarterly Earnings Results
NBT Bancorp Inc. (NASDAQ:NBTB) issued its quarterly earnings results on Monday. The bank reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02, Briefing.com reports. NBT Bancorp had a return on equity of 8.81% and a net margin of 19.68%. The company had revenue of $102.71 million for the quarter, compared to the consensus estimate of $101.31 million. During the same quarter in the prior year, the business earned $0.46 EPS. NBT Bancorp’s revenue was up 6.6% on a year-over-year basis.
NBT Bancorp (NBTB) traded down 2.16% during trading on Monday, reaching $37.56. The company’s stock had a trading volume of 74,362 shares. NBT Bancorp has a 52 week low of $31.28 and a 52 week high of $42.56. The firm has a market capitalization of $1.63 billion, a P/E ratio of 20.19 and a beta of 0.91. The firm has a 50-day moving average price of $35.68 and a 200-day moving average price of $36.19.
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A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $38.00 price objective on shares of NBT Bancorp in a report on Tuesday, October 3rd. Zacks Investment Research cut NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $35.00 price objective on shares of NBT Bancorp in a research report on Sunday, September 17th. Boenning Scattergood raised NBT Bancorp from an “under perform” rating to a “neutral” rating in a research report on Tuesday, August 15th. Finally, ValuEngine cut NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $35.88.
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.
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