NBT Bancorp (NASDAQ:NBTB) Issues Quarterly Earnings Results

NBT Bancorp (NASDAQ:NBTB) released its quarterly earnings data on Tuesday. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.02, FiscalAI reports. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.

NBT Bancorp Stock Down 0.4%

Shares of NASDAQ:NBTB traded down $0.22 during trading on Tuesday, hitting $52.91. The company’s stock had a trading volume of 309,696 shares, compared to its average volume of 297,743. The stock’s 50-day moving average price is $51.35 and its two-hundred day moving average price is $47.49. NBT Bancorp has a fifty-two week low of $39.44 and a fifty-two week high of $54.50. The company has a market capitalization of $2.75 billion, a PE ratio of 12.94 and a beta of 0.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, EVP Sarah Halliday sold 9,000 shares of NBT Bancorp stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total value of $486,360.00. Following the completion of the transaction, the executive vice president owned 22,054 shares of the company’s stock, valued at $1,191,798.16. The trade was a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ruth Mahoney sold 4,500 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the completion of the transaction, the executive vice president owned 11,928 shares of the company’s stock, valued at approximately $647,690.40. The trade was a 27.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Weiss Ratings reissued a “buy (b)” rating on shares of NBT Bancorp in a research report on Monday, October 19th. DA Davidson boosted their target price on NBT Bancorp from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Stephens lowered shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $52.00 to $55.00 in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 target price (up from $52.00) on shares of NBT Bancorp in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, NBT Bancorp currently has a consensus rating of “Hold” and a consensus price target of $54.10.

About NBT Bancorp

NBT Bancorp Inc is the bank holding company for NBT Bank, a community banking institution headquartered in Norwich, New York. Through NBT Bank and its subsidiaries, the company provides banking, lending, investment, insurance and financial services to consumers, businesses, nonprofit organizations and municipalities.

NBT Bank offers checking and savings accounts, certificates of deposit, residential and commercial mortgages, consumer loans, business lending, cash-management services and agricultural financing.