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NBT Bancorp (NBTB)
NASDAQ:NBTB
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.77Last Year’s EPS
$0.72Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: 6.82%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong performance with significant growth in noninterest income, a consistent increase in dividends, and strategic expansion plans through a merger. However, increased operating expenses and delays in a key project were notable challenges. Overall, positive financial metrics and strategic moves suggest a positive outlook.Company Guidance
During the third quarter 2024 earnings call for NBT Bancorp, several key financial metrics were highlighted. The company reported a net income of $38.1 million, or $0.80 per share, marking a $5.4 million increase from the previous quarter. Tangible book value per share reached an all-time high of $23.83. Total loans increased by $256 million, reflecting a 3.5% annualized growth, with a net interest margin of 3.27%, up 9 basis points from the prior quarter. Noninterest income constituted 31% of total revenues, achieving a record high of $45.3 million. Additionally, NBT declared a quarterly cash dividend of $0.34, which was 6.3% higher than the previous year, showcasing a 27% improvement over the past three years. The company also highlighted its strategic merger agreement with Evans Bancorp, Inc., a $2.3 billion community bank, expected to close in the second quarter of 2025.Record Noninterest Income
Noninterest income made up 31% of total revenues and reached a new quarterly all-time high, with fee income at $45.3 million, an increase of 12.1% from Q3 2023.
Dividend Increase
Declared a $0.34 quarterly cash dividend, 6.3% above the prior year's fourth quarter and marking the 12th consecutive year of annual dividend increases.
Merger Agreement with Evans Bancorp
Announced a merger with Evans Bancorp, a $2.3 billion community bank, expanding NBT's footprint into Buffalo and Rochester markets.
Net Income and Earnings Growth
Reported net income of $38.1 million or $0.80 per share, an increase of $5.4 million or $0.11 per share from the prior quarter.
Loan and Deposit Growth
Total loans grew by $256 million for the year, and total deposits increased by $619.3 million from December 2023.
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NBTB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NBTB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $44.87 | $44.98 | +0.25% |
| Jul 22, 2024 | $45.24 | $48.91 | +8.11% |
| Apr 22, 2024 | $34.02 | $35.22 | +3.53% |
| Jan 23, 2024 | $37.99 | $36.74 | -3.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does NBT Bancorp (NBTB) report earnings?
NBT Bancorp (NBTB) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is NBT Bancorp (NBTB) earnings time?
NBT Bancorp (NBTB) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NBTB EPS forecast?
NBTB EPS forecast for the fiscal quarter 2024 (Q4) is $0.77.
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