Wall Street analysts expect that NBT Bancorp Inc. (NASDAQ:NBTB) will report $110.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for NBT Bancorp’s earnings, with estimates ranging from $110.70 million to $110.80 million. NBT Bancorp reported sales of $104.92 million during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The company is scheduled to report its next earnings results on Monday, January 28th.
On average, analysts expect that NBT Bancorp will report full-year sales of $436.35 million for the current year, with estimates ranging from $436.30 million to $436.40 million. For the next financial year, analysts expect that the business will report sales of $453.75 million, with estimates ranging from $453.20 million to $454.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, October 22nd. The bank reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The firm had revenue of $110.91 million for the quarter, compared to analyst estimates of $110.87 million. NBT Bancorp had a return on equity of 10.91% and a net margin of 21.87%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS.
Several research firms have weighed in on NBTB. Zacks Investment Research lowered NBT Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a research report on Tuesday, October 23rd. Finally, BidaskClub raised NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Five investment analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $39.50.
Several hedge funds and other institutional investors have recently modified their holdings of NBTB. LPL Financial LLC bought a new position in shares of NBT Bancorp during the 1st quarter worth approximately $256,000. Millennium Management LLC boosted its stake in shares of NBT Bancorp by 34.7% during the 1st quarter. Millennium Management LLC now owns 261,943 shares of the bank’s stock worth $9,294,000 after acquiring an additional 67,485 shares during the period. Legal & General Group Plc boosted its stake in shares of NBT Bancorp by 2.2% during the 1st quarter. Legal & General Group Plc now owns 89,043 shares of the bank’s stock worth $3,167,000 after acquiring an additional 1,877 shares during the period. Principal Financial Group Inc. boosted its stake in shares of NBT Bancorp by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 334,132 shares of the bank’s stock worth $11,855,000 after acquiring an additional 8,337 shares during the period. Finally, Berkshire Asset Management LLC PA bought a new position in shares of NBT Bancorp during the 2nd quarter worth approximately $202,000. Institutional investors own 52.17% of the company’s stock.
NASDAQ:NBTB opened at $37.74 on Friday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 19.16 and a beta of 0.83. NBT Bancorp has a twelve month low of $34.05 and a twelve month high of $41.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.26 per share. This is an increase from NBT Bancorp’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 29th. NBT Bancorp’s payout ratio is currently 50.76%.
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 commercial, commercial real estate, agricultural, agricultural real estate, and business banking loans; consumer loans, such as indirect, home equity, and direct loans; and residential real estate mortgages, as well as real estate construction and development loans.
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