Regional banking company NBT Bancorp (NASDAQ: NBTB) will be announcing earnings results this Tuesday afternoon. Here’s what investors should know.
NBT Bancorp missed analysts’ revenue expectations last quarter, reporting revenues of $187.1 million, up 9% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS and net interest income estimates.
Is NBT Bancorp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting NBT Bancorp’s revenue to grow 3.9% year on year, slowing from the 26.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. NBT Bancorp has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at NBT Bancorp’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Byline Bancorp delivered year-on-year revenue growth of 4.6%, beating analysts’ expectations by 3.7%, and First Citizens BancShares reported flat revenue, topping estimates by 2%. Byline Bancorp traded up 1.1% following the results.
Read our full analysis of Byline Bancorp’s results here and First Citizens BancShares’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. NBT Bancorp is up 4% during the same time and is heading into earnings with an average analyst price target of $57.50 (compared to the current share price of $52.85).
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
