NBT Bancorp Inc. (NBTB) Expected to Post Quarterly Sales of $112.00 Million
Brokerages expect that NBT Bancorp Inc. (NASDAQ:NBTB) will report $112.00 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for NBT Bancorp’s earnings, with the lowest sales estimate coming in at $111.90 million and the highest estimate coming in at $112.10 million. NBT Bancorp reported sales of $104.76 million during the same quarter last year, which would indicate a positive year over year growth rate of 6.9%. The business is expected to announce its next earnings report on Monday, April 22nd.
According to Zacks, analysts expect that NBT Bancorp will report full-year sales of $453.40 million for the current year, with estimates ranging from $452.20 million to $454.60 million. For the next financial year, analysts anticipate that the firm will report sales of $465.10 million, with estimates ranging from $462.40 million to $467.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover NBT Bancorp.
NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, January 28th. The bank reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. The company had revenue of $104.82 million for the quarter, compared to analyst estimates of $110.75 million. NBT Bancorp had a return on equity of 11.42% and a net margin of 24.00%. During the same quarter in the previous year, the company posted $0.50 earnings per share.
In other news, CFO Michael J. Chewens sold 4,634 shares of the company’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $36.33, for a total value of $168,353.22. Following the transaction, the chief financial officer now owns 60,556 shares of the company’s stock, valued at approximately $2,199,999.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.23% of the company’s stock.
Several institutional investors have recently made changes to their positions in NBTB. BlackRock Inc. lifted its stake in shares of NBT Bancorp by 3.9% in the 3rd quarter. BlackRock Inc. now owns 6,258,533 shares of the bank’s stock valued at $240,201,000 after purchasing an additional 235,662 shares during the last quarter. Vanguard Group Inc lifted its stake in NBT Bancorp by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 4,353,893 shares of the bank’s stock worth $167,102,000 after acquiring an additional 85,263 shares in the last quarter. Vanguard Group Inc. lifted its stake in NBT Bancorp by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,353,893 shares of the bank’s stock worth $167,102,000 after acquiring an additional 85,263 shares in the last quarter. Morgan Stanley lifted its stake in NBT Bancorp by 25.9% during the 3rd quarter. Morgan Stanley now owns 213,916 shares of the bank’s stock worth $8,211,000 after acquiring an additional 43,970 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in NBT Bancorp by 48.5% during the 3rd quarter. Wells Fargo & Company MN now owns 124,910 shares of the bank’s stock worth $4,794,000 after acquiring an additional 40,810 shares in the last quarter. 54.38% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ NBTB traded down $0.05 on Monday, reaching $37.61. 151,352 shares of the company were exchanged, compared to its average volume of 81,815. The firm has a market capitalization of $1.64 billion, a P/E ratio of 14.69 and a beta of 0.82. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.85 and a current ratio of 0.85. NBT Bancorp has a fifty-two week low of $30.36 and a fifty-two week high of $41.88.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, February 28th. NBT Bancorp’s dividend payout ratio (DPR) is presently 40.63%.
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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