NasdaqGS:NBTB

Stock Analysis Report

Executive Summary

NBT Bancorp Inc., a financial holding company, provides commercial banking, retail banking, and wealth management services.

Snowflake

Fundamentals

Flawless balance sheet average dividend payer.


Similar Companies

Share Price & News

How has NBT Bancorp's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.7%

NBTB

1.4%

US Banks

1.0%

US Market


1 Year Return

0.5%

NBTB

0.2%

US Banks

6.7%

US Market

Return vs Industry: NBTB matched the US Banks industry which returned 0.2% over the past year.

Return vs Market: NBTB underperformed the US Market which returned 6.7% over the past year.


Shareholder returns

NBTBIndustryMarket
7 Day0.7%1.4%1.0%
30 Day-4.2%-2.6%-1.8%
90 Day-1.6%0.8%-1.8%
1 Year3.4%0.5%3.1%0.2%9.1%6.7%
3 Year20.4%11.4%52.0%41.5%46.1%36.6%
5 Year79.1%55.3%69.7%51.2%66.9%48.6%

Price Volatility Vs. Market

How volatile is NBT Bancorp's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is NBT Bancorp undervalued compared to its fair value and its price relative to the market?

13.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: NBTB ($36.54) is trading above our estimate of fair value ($29.43)

Significantly Undervalued: NBTB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NBTB is poor value based on its PE Ratio (13.5x) compared to the Banks industry average (12.5x).

PE vs Market: NBTB is good value based on its PE Ratio (13.5x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: NBTB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: NBTB is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is NBT Bancorp forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

-2.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NBTB's earnings are forecast to decline over the next 3 years (-2% per year).

Earnings vs Market: NBTB's earnings are forecast to decline over the next 3 years (-2% per year).

High Growth Earnings: NBTB's earnings are forecast to decline over the next 3 years.

Revenue vs Market: NBTB's revenue (4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: NBTB's revenue (4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if NBTB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has NBT Bancorp performed over the past 5 years?

9.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: NBTB's earnings have grown by 9% per year over the past 5 years.

Accelerating Growth: NBTB's earnings growth over the past year (24.9%) exceeds its 5-year average (9% per year).

Earnings vs Industry: NBTB earnings growth over the past year (24.9%) underperformed the Banks industry 31.8%.


Return on Equity

High ROE: NBTB's Return on Equity (11%) is considered low.


Return on Assets

ROA vs Industry: NBTB has a higher Return on Assets than the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate NBTB's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is NBT Bancorp's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: NBTB has a low level of unsold assets or inventory.

Debt Coverage by Assets: NBTB's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: NBTB's level of assets compared to its equity is low.

Allowance for Bad Loans: NBTB has a sufficient allowance for bad loans.

Low Risk Liabilities: NBTB's liabilities are made up of primarily low risk sources of funding.

Loan Level: NBTB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: NBTB's loans are broadly funded by customer deposits.

Level of Bad Loans: NBTB has an appropriate level of bad loans (0.39%)


Next Steps

Dividend

What is NBT Bancorp's current dividend yield, its reliability and sustainability?

2.85%

Current Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years2.9%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: NBTB's dividend (2.85%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: NBTB's dividend (2.85%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: NBTB's dividends per share have been stable in the past 10 years.

Growing Dividend: NBTB's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.2%), NBTB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of NBT Bancorp's salary, the management and board of directors tenure and is there insider trading?

2.8yrs

Average management tenure


CEO

John Watt (61yo)

2.8yrs

Tenure

US$2,169,099

Compensation

Mr. John H. Watt, Jr. has 31 years of experience in the financial services industry. He joined NBT Bank in 2014 following the sale of Alliance Financial Corporation to NBT. He played a leadership role in N ...


CEO Compensation Analysis

Compensation vs. Market: John's total compensation ($USD2.17M) is about average for companies of similar size in the US market ($USD4.08M).

Compensation vs Earnings: John's compensation has increased by more than 20% in the past year.


Management Age and Tenure

2.8yrs

Average Tenure

58yo

Average Age

Experienced Management: NBTB's management team is considered experienced (2.8 years average tenure).


Board Age and Tenure

8.8yrs

Average Tenure

65yo

Average Age

Experienced Board: NBTB's board of directors are considered experienced (8.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$192,33416 May 19
Michael Chewens
EntityIndividual
Role
Chief Financial Officer
Senior Executive VP & CFO
Shares5,103
Max PriceUS$37.69
SellUS$168,36317 Jan 19
Michael Chewens
EntityIndividual
Role
Chief Financial Officer
Senior Executive VP & CFO
Shares4,634
Max PriceUS$36.33
BuyUS$15,01525 Oct 18
Sarah Halliday
EntityIndividual
Role
Senior Key Executive
Executive VP & President of Commercial Banking
Shares425
Max PriceUS$35.33

Ownership Breakdown


Management Team

  • Mike Chewens (58yo)

    Senior Executive VP & CFO

    • Tenure: 20.8yrs
    • Compensation: US$1.14m
  • Sarah Halliday (48yo)

    Executive VP & President of Commercial Banking

    • Tenure: 2.8yrs
    • Compensation: US$718.24k
  • John Watt (61yo)

    President

    • Tenure: 2.8yrs
    • Compensation: US$2.17m
  • Catherine Scarlett

    Executive VP and Chief Ethics & Human Resources Officer

    • Tenure: 0yrs
  • Joseph Stagliano (50yo)

    Executive Vice President and President of Retail Community Banking

    • Tenure: 0.8yrs
    • Compensation: US$825.14k
  • Timothy Brenner (62yo)

    Executive VP & President of Wealth Management

    • Tenure: 7.6yrs
    • Compensation: US$884.10k
  • Angela Kelley

    Executive VP

    • Tenure: 0.2yrs
  • Ken Entenmann

    Senior VP

    • Tenure: 0yrs
  • Shaunastar Hyle

    Executive Vice President of Consumer Lending

    • Tenure: 0.8yrs
  • Florence Doller

    Senior VP & Director of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Martin Dietrich (64yo)

    Chairman of the Board

    • Tenure: 3.4yrs
    • Compensation: US$179.79k
  • Andy Kowalczyk (61yo)

    Director

    • Tenure: 2.8yrs
    • Compensation: US$102.28k
  • John Mitchell (69yo)

    Lead Director

    • Tenure: 0yrs
    • Compensation: US$125.81k
  • Joseph Santangelo (66yo)

    Director

    • Tenure: 19.8yrs
    • Compensation: US$78.06k
  • Matt Salanger (63yo)

    Director

    • Tenure: 3.4yrs
    • Compensation: US$118.21k
  • Tim Delaney (56yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: US$100.27k
  • Patricia Civil (70yo)

    Director

    • Tenure: 16.8yrs
    • Compensation: US$125.69k
  • John Watt (61yo)

    President

    • Tenure: 2.8yrs
    • Compensation: US$2.17m
  • Robert Wadsworth (71yo)

    Director

    • Tenure: 12.9yrs
    • Compensation: US$101.08k
  • Jim Douglas (67yo)

    Director

    • Tenure: 8.8yrs
    • Compensation: US$109.81k

Company Information

NBT Bancorp Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: NBT Bancorp Inc.
  • Ticker: NBTB
  • Exchange: NasdaqGS
  • Founded: 1856
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.600b
  • Shares outstanding: 43.78m
  • Website: https://www.nbtbancorp.com

Number of Employees


Location

  • NBT Bancorp Inc.
  • 52 South Broad Street
  • Norwich
  • New York
  • 13815
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NBTBNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 1990

Biography

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 withdra ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:37
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.