Zacks: Analysts Anticipate NBT Bancorp Inc. (NASDAQ:NBTB) to Announce $0.86 EPS

Wall Street brokerages expect NBT Bancorp Inc. (NASDAQ:NBTB) to report $0.86 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for NBT Bancorp’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $0.88. NBT Bancorp reported earnings of $0.78 per share during the same quarter last year, which indicates a positive year over year growth rate of 10.3%. The firm is expected to report its next earnings results on Wednesday, January 26th.

On average, analysts expect that NBT Bancorp will report full year earnings of $3.55 per share for the current fiscal year, with EPS estimates ranging from $3.53 to $3.56. For the next year, analysts expect that the firm will post earnings of $2.91 per share, with EPS estimates ranging from $2.74 to $3.13. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for NBT Bancorp.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, October 25th. The bank reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. NBT Bancorp had a return on equity of 12.62% and a net margin of 30.86%. The firm had revenue of $118.00 million during the quarter, compared to the consensus estimate of $120.37 million. During the same quarter in the previous year, the company posted $0.80 earnings per share.

A number of research analysts have issued reports on NBTB shares. Piper Sandler raised NBT Bancorp from a “neutral” rating to an “overweight” rating and set a $40.00 price target for the company in a report on Wednesday, July 28th. Zacks Investment Research raised NBT Bancorp from a “sell” rating to a “hold” rating in a report on Friday, October 29th.

NASDAQ:NBTB traded down $0.22 during trading hours on Thursday, reaching $38.09. The company had a trading volume of 105,437 shares, compared to its average volume of 134,860. NBT Bancorp has a 1-year low of $29.89 and a 1-year high of $42.79. The firm has a market cap of $1.65 billion, a PE ratio of 10.98 and a beta of 0.67. The business’s 50 day moving average price is $36.76 and its 200-day moving average price is $36.61. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, November 30th. NBT Bancorp’s payout ratio is 32.28%.

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of NBT Bancorp by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 597,535 shares of the bank’s stock worth $21,582,000 after buying an additional 3,306 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of NBT Bancorp by 127.2% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 45,717 shares of the bank’s stock worth $1,651,000 after buying an additional 25,599 shares during the period. Two Sigma Advisers LP raised its stake in shares of NBT Bancorp by 1,054.3% during the 3rd quarter. Two Sigma Advisers LP now owns 80,800 shares of the bank’s stock worth $2,918,000 after buying an additional 73,800 shares during the period. Two Sigma Investments LP raised its stake in shares of NBT Bancorp by 341.7% during the 3rd quarter. Two Sigma Investments LP now owns 79,444 shares of the bank’s stock worth $2,870,000 after buying an additional 61,460 shares during the period. Finally, Millennium Management LLC raised its stake in shares of NBT Bancorp by 19.0% during the 3rd quarter. Millennium Management LLC now owns 105,537 shares of the bank’s stock worth $3,812,000 after buying an additional 16,822 shares during the period. 54.24% of the stock is owned by institutional investors and hedge funds.

NBT Bancorp Company Profile

NBT Bancorp, Inc is a holding company, which engages in the provision of financial solutions. It offers commercial banking, retail banking, and wealth management, as well as trust and investment services. The company was founded in 1986 and is headquartered in Norwich, NY.

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Earnings History and Estimates for NBT Bancorp (NASDAQ:NBTB)

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