Brokerages expect that NBT Bancorp Inc. (NASDAQ:NBTB) will post $111.67 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for NBT Bancorp’s earnings, with the lowest sales estimate coming in at $110.80 million and the highest estimate coming in at $112.60 million. NBT Bancorp posted sales of $112.87 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The firm is expected to issue its next earnings results on Monday, July 27th.
On average, analysts expect that NBT Bancorp will report full-year sales of $454.60 million for the current year, with estimates ranging from $445.90 million to $469.40 million. For the next fiscal year, analysts anticipate that the company will post sales of $456.20 million, with estimates ranging from $445.50 million to $476.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, April 27th. The bank reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.27). NBT Bancorp had a return on equity of 9.28% and a net margin of 20.00%. The firm had revenue of $112.60 million for the quarter, compared to the consensus estimate of $111.64 million.
A number of research firms have commented on NBTB. Stephens initiated coverage on NBT Bancorp in a report on Monday, June 1st. They set an “equal weight” rating and a $35.00 target price on the stock. BidaskClub downgraded NBT Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, May 14th. Finally, Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.67.
NASDAQ:NBTB traded up $0.52 during trading hours on Friday, reaching $30.75. 9,582 shares of the stock were exchanged, compared to its average volume of 193,811. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $30.39 and a 200-day simple moving average of $34.79. NBT Bancorp has a 52 week low of $26.32 and a 52 week high of $41.50. The stock has a market capitalization of $1.33 billion, a P/E ratio of 13.09 and a beta of 0.66.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBTB. Swiss National Bank increased its stake in NBT Bancorp by 2.1% during the fourth quarter. Swiss National Bank now owns 83,800 shares of the bank’s stock valued at $3,399,000 after acquiring an additional 1,700 shares during the period. State Street Corp lifted its holdings in NBT Bancorp by 3.5% during the 4th quarter. State Street Corp now owns 1,345,051 shares of the bank’s stock worth $54,555,000 after buying an additional 45,992 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in NBT Bancorp by 35.3% during the 4th quarter. Victory Capital Management Inc. now owns 58,461 shares of the bank’s stock worth $2,371,000 after buying an additional 15,263 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NBT Bancorp by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 354,252 shares of the bank’s stock worth $14,369,000 after buying an additional 7,592 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in NBT Bancorp during the 4th quarter worth $63,000. 56.02% 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 and industrial, commercial real estate, agricultural, and commercial construction loans; indirect and direct consumer, home equity, direct loans, mortgages, business banking loans, and commercial loans; and residential real estate loans, as well as development loans.
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