Analysts expect NBT Bancorp Inc. (NASDAQ:NBTB) to report $108.93 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NBT Bancorp’s earnings, with the lowest sales estimate coming in at $108.90 million and the highest estimate coming in at $108.95 million. NBT Bancorp reported sales of $99.93 million during the same quarter last year, which indicates a positive year over year growth rate of 9%. The firm is expected to issue its next earnings results on Monday, July 23rd.
According to Zacks, analysts expect that NBT Bancorp will report full year sales of $436.44 million for the current fiscal year, with estimates ranging from $435.80 million to $437.08 million. For the next fiscal year, analysts forecast that the company will post sales of $459.69 million per share, with estimates ranging from $459.37 million to $460.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Monday, April 23rd. The bank reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $104.76 million during the quarter, compared to analyst estimates of $104.14 million. NBT Bancorp had a net margin of 19.99% and a return on equity of 9.69%. NBT Bancorp’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share.
A number of brokerages have recently issued reports on NBTB. BidaskClub lowered shares of NBT Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, May 12th. Zacks Investment Research raised shares of NBT Bancorp from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Saturday, April 28th. Boenning Scattergood reissued a “hold” rating on shares of NBT Bancorp in a research note on Wednesday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $41.50 target price on shares of NBT Bancorp in a research note on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.13.
Shares of NBTB traded down $0.13 during trading hours on Monday, reaching $38.10. 79,032 shares of the company traded hands, compared to its average volume of 81,683. The firm has a market capitalization of $1.67 billion, a P/E ratio of 19.34 and a beta of 0.84. NBT Bancorp has a 12-month low of $31.28 and a 12-month high of $40.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.25 per share. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, May 31st. NBT Bancorp’s payout ratio is currently 46.70%.
Institutional investors and hedge funds have recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of NBT Bancorp during the first quarter valued at $113,000. CIBC Asset Management Inc bought a new stake in shares of NBT Bancorp in the fourth quarter valued at about $208,000. Quadrant Private Wealth Management LLC bought a new stake in shares of NBT Bancorp in the fourth quarter valued at about $250,000. LPL Financial LLC bought a new stake in shares of NBT Bancorp in the first quarter valued at about $256,000. Finally, Xact Kapitalforvaltning AB bought a new stake in shares of NBT Bancorp in the fourth quarter valued at about $279,000. 50.90% of the stock is owned by hedge funds and other institutional investors.
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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