Piper Sandler Analysts Reduce Earnings Estimates for NBT Bancorp Inc. (NASDAQ:NBTB)

NBT Bancorp Inc. (NASDAQ:NBTB) – Analysts at Piper Sandler decreased their Q1 2020 earnings per share (EPS) estimates for NBT Bancorp in a research report issued on Monday, March 23rd. Piper Sandler analyst A. Twerdahl now forecasts that the bank will earn $0.56 per share for the quarter, down from their previous estimate of $0.65. Piper Sandler also issued estimates for NBT Bancorp’s Q2 2020 earnings at $0.53 EPS, Q3 2020 earnings at $0.57 EPS, Q4 2020 earnings at $0.60 EPS, Q1 2021 earnings at $0.57 EPS, Q2 2021 earnings at $0.60 EPS, Q3 2021 earnings at $0.60 EPS and Q4 2021 earnings at $0.59 EPS.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings data on Monday, January 27th. The bank reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $113.42 million during the quarter, compared to analyst estimates of $110.50 million. NBT Bancorp had a net margin of 23.66% and a return on equity of 11.19%. During the same quarter in the prior year, the business earned $0.65 earnings per share.

A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. BidaskClub raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th.

Shares of NBTB opened at $33.39 on Thursday. The company has a 50-day simple moving average of $35.20 and a 200-day simple moving average of $38.04. The firm has a market capitalization of $1.35 billion, a P/E ratio of 12.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.88. NBT Bancorp has a 52 week low of $27.54 and a 52 week high of $41.50.

A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its position in NBT Bancorp by 6.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,518,735 shares of the bank’s stock worth $61,600,000 after purchasing an additional 95,200 shares in the last quarter. State Street Corp lifted its holdings in shares of NBT Bancorp by 3.5% during the fourth quarter. State Street Corp now owns 1,345,051 shares of the bank’s stock valued at $54,555,000 after acquiring an additional 45,992 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NBT Bancorp by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 670,116 shares of the bank’s stock valued at $27,180,000 after purchasing an additional 21,352 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NBT Bancorp by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 603,879 shares of the bank’s stock valued at $24,493,000 after purchasing an additional 25,409 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of NBT Bancorp by 0.3% in the 4th quarter. Principal Financial Group Inc. now owns 358,375 shares of the bank’s stock worth $14,536,000 after purchasing an additional 911 shares during the last quarter. 56.78% of the stock is owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, May 29th. NBT Bancorp’s dividend payout ratio (DPR) is presently 39.42%.

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 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.

Further Reading: Reverse Stock Split

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

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