Wall Street brokerages forecast that NBT Bancorp Inc. (NASDAQ:NBTB – Get Rating) will report sales of $123.57 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for NBT Bancorp’s earnings, with estimates ranging from $121.20 million to $126.00 million. NBT Bancorp posted sales of $118.49 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that NBT Bancorp will report full-year sales of $493.00 million for the current year, with estimates ranging from $487.10 million to $501.40 million. For the next fiscal year, analysts forecast that the business will report sales of $515.53 million, with estimates ranging from $506.60 million to $532.90 million. Zacks’ sales averages are an average based on a survey of research firms that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB – Get Rating) last posted its quarterly earnings results on Monday, April 25th. The bank reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. NBT Bancorp had a net margin of 30.64% and a return on equity of 12.66%. The business had revenue of $123.01 million during the quarter, compared to analysts’ expectations of $120.91 million. During the same quarter in the prior year, the company posted $0.92 EPS.
In other NBT Bancorp news, CFO Scott Allen Kingsley bought 3,000 shares of NBT Bancorp stock in a transaction on Wednesday, April 27th. The shares were bought at an average cost of $35.60 per share, for a total transaction of $106,800.00. Following the acquisition, the chief financial officer now directly owns 17,215 shares in the company, valued at $612,854. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.55% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of NBT Bancorp in the 4th quarter valued at $12,304,000. Invesco Ltd. raised its holdings in shares of NBT Bancorp by 163.7% in the 1st quarter. Invesco Ltd. now owns 316,061 shares of the bank’s stock valued at $11,420,000 after purchasing an additional 196,226 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of NBT Bancorp by 433.7% in the 4th quarter. JPMorgan Chase & Co. now owns 203,791 shares of the bank’s stock valued at $7,851,000 after purchasing an additional 165,609 shares in the last quarter. State Street Corp raised its holdings in shares of NBT Bancorp by 9.1% in the 1st quarter. State Street Corp now owns 1,909,226 shares of the bank’s stock valued at $68,980,000 after purchasing an additional 159,606 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of NBT Bancorp by 1,054.3% in the 3rd quarter. Two Sigma Advisers LP now owns 80,800 shares of the bank’s stock valued at $2,918,000 after purchasing an additional 73,800 shares in the last quarter. Institutional investors own 55.74% of the company’s stock.
NASDAQ:NBTB opened at $35.94 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $1.54 billion, a P/E ratio of 10.15 and a beta of 0.58. The company has a 50 day moving average price of $36.26 and a 200 day moving average price of $37.72. NBT Bancorp has a fifty-two week low of $32.66 and a fifty-two week high of $42.33.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.12%. NBT Bancorp’s payout ratio is currently 31.64%.
NBT Bancorp Company Profile (Get Rating)
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 and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; and residential real estate loans.
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