NBT Bancorp (NASDAQ:NBTB) Posts Earnings Results, Beats Estimates By $0.02 EPS

NBT Bancorp (NASDAQ:NBTB - Get Free Report) posted its earnings results on Monday. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.02, Zacks reports. The company had revenue of $202.00 million for the quarter, compared to analysts' expectations of $144.70 million. NBT Bancorp had a return on equity of 9.64% and a net margin of 16.15%. During the same period last year, the business posted $0.84 earnings per share.

NBT Bancorp Stock Up 0.2 %

NASDAQ NBTB traded up $0.11 during trading on Tuesday, reaching $45.29. 261,213 shares of the company's stock were exchanged, compared to its average volume of 203,279. NBT Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $50.83. The firm has a market capitalization of $2.14 billion, a PE ratio of 17.55 and a beta of 0.50. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The company's fifty day simple moving average is $45.39 and its 200-day simple moving average is $41.50.

Insiders Place Their Bets

In other NBT Bancorp news, EVP Amy Wiles sold 556 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the sale, the executive vice president now directly owns 28,909 shares in the company, valued at approximately $1,300,905. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Amy Wiles sold 556 shares of NBT Bancorp stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $25,020.00. Following the completion of the sale, the executive vice president now directly owns 28,909 shares in the company, valued at $1,300,905. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Martin Randolph Sparks sold 1,000 shares of NBT Bancorp stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.37, for a total value of $48,370.00. Following the sale, the executive vice president now owns 15,003 shares of the company's stock, valued at approximately $725,695.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,556 shares of company stock worth $4,527,790. 3.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James lowered NBT Bancorp from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 24th. Stephens reissued an "equal weight" rating and set a $49.00 price target on shares of NBT Bancorp in a report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, NBT Bancorp has an average rating of "Hold" and an average target price of $42.60.

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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.