NBT Bancorp (NASDAQ:NBTB) announced its quarterly earnings results on Monday. The bank reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03), Bloomberg Earnings reports. NBT Bancorp had a return on equity of 9.01% and a net margin of 20.02%. During the same period in the prior year, the company earned $0.45 earnings per share.
NBT Bancorp (NBTB) traded up $0.05 during mid-day trading on Monday, hitting $37.76. The stock had a trading volume of 83,113 shares, compared to its average volume of 142,002. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $1,640.00, a PE ratio of 19.77 and a beta of 0.89. NBT Bancorp has a 52 week low of $31.28 and a 52 week high of $42.55.
NBTB has been the subject of several recent analyst reports. Zacks Investment Research upgraded NBT Bancorp from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, October 26th. BidaskClub downgraded NBT Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $38.00 price target on shares of NBT Bancorp in a report on Tuesday, October 3rd. Finally, Sandler O’Neill set a $38.00 price target on NBT Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. NBT Bancorp presently has an average rating of “Hold” and a consensus target price of $38.25.
NBT Bancorp declared that its board has authorized a stock repurchase program on Monday, October 23rd that permits the company to buyback 1,000,000 shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
About NBT Bancorp
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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