Equities analysts expect NBT Bancorp Inc. (NASDAQ:NBTB) to announce earnings per share (EPS) of $0.62 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for NBT Bancorp’s earnings. NBT Bancorp posted earnings per share of $0.49 in the same quarter last year, which indicates a positive year over year growth rate of 26.5%. 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 earnings of $2.47 per share for the current financial year, with EPS estimates ranging from $2.45 to $2.48. For the next fiscal year, analysts forecast that the company will post earnings of $2.62 per share, with EPS estimates ranging from $2.61 to $2.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NBT Bancorp.
Get NBT Bancorp alerts:NBT Bancorp (NASDAQ:NBTB) last issued its earnings results 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 for 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS.
A number of analysts recently commented on NBTB shares. Zacks Investment Research lowered NBT Bancorp from a “buy” rating to a “strong sell” rating in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $41.50 target price on shares of NBT Bancorp in a research report on Tuesday, February 27th. BidaskClub lowered NBT Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of NBT Bancorp in a research report on Wednesday, April 25th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.13.
Shares of NBT Bancorp opened at $39.30 on Friday, according to MarketBeat.com. NBT Bancorp has a one year low of $31.28 and a one year high of $40.47. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 19.95 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.84 and a current ratio of 0.84.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, May 31st. NBT Bancorp’s payout ratio is presently 50.76%.
A number of hedge funds have recently added to or reduced their stakes in NBTB. Schwab Charles Investment Management Inc. boosted its stake in NBT Bancorp by 7.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 291,528 shares of the bank’s stock valued at $10,729,000 after purchasing an additional 19,384 shares during the last quarter. CIBC Asset Management Inc acquired a new position in NBT Bancorp during the 4th quarter valued at about $208,000. Teacher Retirement System of Texas acquired a new position in NBT Bancorp during the 4th quarter valued at about $553,000. California Public Employees Retirement System boosted its stake in NBT Bancorp by 8.1% during the 4th quarter. California Public Employees Retirement System now owns 98,544 shares of the bank’s stock valued at $3,626,000 after purchasing an additional 7,364 shares during the last quarter. Finally, Swiss National Bank boosted its stake in NBT Bancorp by 3.5% during the 4th quarter. Swiss National Bank now owns 73,300 shares of the bank’s stock valued at $2,697,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.
About NBT Bancorp
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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