NBT Bancorp Inc. (NASDAQ: NBTB) stock fell -11.24% on Tuesday to $37.60 against a previous-day closing price of $42.36. With 0.56 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.18 million shares. During the session, the Banks – Regional company that operates in wider Financial sector, reached to the highest price of $42.22 whereas the lowest price it dropped to was $37.14. The 52-week range on NBTB shows that it touched its highest point at $48.68 and its lowest point at $34.58 during that stretch. It currently has a 1-year price target of $47.17. With its current market cap of 1.59 billion, NBTB has annualized dividend of $1.20 while the current yield stands at 3.19%. Beta for the stock currently stands at 0.61.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NBTB was down-trending over the past week, with a drop of -14.06%, but this was down by -13.40% over a month. Three-month performance dropped to -11.70% while six-month performance fell -5.98%. The stock lost -4.15% in the past year, while it has lost -13.40% so far this year. A look at the trailing 12-month EPS for NBTB yields 3.54 with Next year EPS estimates of 3.64. For the next quarter, that number is 0.93. This implies an EPS growth rate of 49.30% for this year and 0.83% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 14.50%.
Float and Shares Shorts:
At present, 42.84 million NBTB shares are outstanding with a float of 41.12 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.82 million, which was 1.91% higher than short shares on Sep 14, 2022. In addition to Mr. John H. Watt Jr. as the firm’s Pres, CEO & Director, Mr. Scott A. Kingsley CPA serves as its Exec. VP & CFO.
Through their ownership of 58.22% of NBTB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.44% of NBTB, in contrast to 40.80% held by mutual funds. Shares owned by individuals account for 17.90%. As the largest shareholder in NBTB with 13.88% of the stake, BlackRock Fund Advisors holds 5,946,993 shares worth 5,946,993. A second-largest stockholder of NBTB, The Vanguard Group, Inc., holds 4,819,584 shares, controlling over 11.25% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in NBTB, holding 1,958,554 shares or 4.57% stake. With a 6.82% stake in NBTB, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,922,749 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.92% of NBTB stock, is the second-largest Mutual Fund holder. It holds 1,252,446 shares valued at 54.38 million. Vanguard Small Cap Index Fund holds 2.45% of the stake in NBTB, owning 1,048,600 shares worth 45.53 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NBTB since 6 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NBTB analysts setting a high price target of $49.00 and a low target of $41.00, the average target price over the next 12 months is $44.50. Based on these targets, NBTB could surge 30.32% to reach the target high and rise by 9.04% to reach the target low. Reaching the average price target will result in a growth of 18.35% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NBTB will report FY 2023 earnings on 01/22/2024. Analysts have provided yearly estimates in a range of $3.72 being high and $3.40 being low. For NBTB, this leads to a yearly average estimate of $3.58. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. NBT Bancorp Inc. surprised analysts by -$0.08 when it reported $0.85 EPS against a consensus estimate of $0.93. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is $0.92 and the low estimate is $0.82. The average estimate for the next quarter is thus $0.88.
Dividends & Yield:
In terms of dividends, NBTB has a current ratio of $1.2, which is $1.2 over the trailing 12-months, while a dividend of $1.05 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and NBTB currently yields $3.09. In the past year, NBTB’s dividend yield has been $3.09, but when looking at the stock over the past five years, its yield has been $2.91. Accordingly, NBTB has a current buyback yield of $1.39. This was $1.39 for the TTM, and it was $1.02 for the past five years.
Summary of Insider Activity:
Insiders traded NBTB stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 750 shares were bought while 1,097 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 78,967 while 14,586 shares were sold.