NBT Bancorp (NBTB) AI Stock Analysis

• Market Cap: $2.32B
• Dividend Yield: 3.14%
• Average Volume (3M): 194.98K
• Price to Earnings (P/E): 15.9
• Beta (1Y): 0.91
• Revenue Growth: 10.00%
• EPS Growth: 7.35%
• Country: US
• Employees: 2,083
• Sector: Financial
• Sector Strength: 78
• Industry: Banks - Regional
• EPS (TTM): 0.88
• Shares Outstanding: 52,394,085
• 10 Day Avg. Volume: 160,466
• 30 Day Avg. Volume: 194,981
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 2.89
• Enterprise Value/Gross Profit: 5.18
• Enterprise Value/Ebitda: 10.74
• 1Y Price Target: $50.67
• Price Target Upside: 14.46% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 80 Outperform
• Price Target: $49.00 ▲(10.68% Upside)

NBT Bancorp's strong financial performance and positive earnings call are the most significant factors driving the score. The company's effective management of profitability and growth, alongside a successful merger, outweigh minor technical and valuation concerns. The stock is well-positioned for future growth, supported by a stable financial foundation and strategic initiatives.

Positive Factors

Growth Opportunities

Investments in semiconductor chip manufacturing plants in Upstate NY provide a favorable growth backdrop for NBTB.

Market Strategy

Executing well in their rural, suburban and lower density urban markets.

Negative Factors

Risks and Concerns

Risks to our thesis include but not limited to a general weakness in community bank stocks, credit deterioration, interest rate sensitivity, and share liquidity risk.

NBT Bancorp Business Overview & Revenue Model

Company Description

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, mortgages, business banking loans, and commercial loans; and residential real estate loans. It also provides trust and investment services; financial planning and life insurance services; and retirement plan consulting and recordkeeping services. In addition, the company offers insurance products comprising personal property and casualty, business liability, and commercial insurance, as well as other products and services through 24-hour online, mobile, and telephone channels that enable customers to check balances, make deposits, transfer funds, pay bills, access statements, apply for loans, and access various other products and services. As of December 31, 2021, it had 140 branches and 164 ATMs in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Connecticut, and Maine. NBT Bancorp Inc. was founded in 1856 and is headquartered in Norwich, New York.

How the Company Makes Money

NBT Bancorp generates revenue primarily through interest income from loans and investments, as well as non-interest income from various service fees and financial products. The key revenue streams include interest earned on mortgages, commercial loans, and consumer loans, which are typically the largest contributors to the company's earnings. Additionally, NBT Bancorp earns fees from services such as wealth management, insurance products, and transaction services. The bank also benefits from its network of partnerships, including affiliations with investment firms and insurance providers, enhancing its service offerings and revenue potential. Factors contributing to its earnings include the interest rate environment, loan demand, and overall economic conditions in its operating regions.

NBT Bancorp Financial Statement Overview

Summary

NBT Bancorp exhibits strong financial health with robust profitability margins and steady revenue growth. The company demonstrates effective cash flow operations and prudent leverage management, although the low equity ratio suggests some reliance on liabilities.

Income Statement

NBT Bancorp has demonstrated consistent revenue growth, with a TTM revenue increase of 1.20% compared to the previous year. The gross profit margin is strong at approximately 71.25%, reflecting efficient management of costs. The net profit margin is also robust at 18.05%, indicating solid profitability. Both EBIT and EBITDA margins are healthy at 23.06% and 26.54%, respectively, showcasing operational efficiency.

Balance Sheet

The balance sheet reveals a stable financial position with a debt-to-equity ratio of 0.20, indicating prudent leverage management. The return on equity is strong at 9.17%, suggesting effective use of shareholder funds. The equity ratio stands at 11.30%, reflecting a reasonable capital structure. However, the relatively low equity ratio points to reliance on liabilities to finance assets, which could pose risks in adverse conditions.

Cash Flow

Cash flow analysis shows a stable operating cash flow to net income ratio of 1.35, indicating effective cash conversion. The free cash flow growth rate is 2.25%, highlighting positive cash generation capabilities. The free cash flow to net income ratio is 1.26, underscoring strong cash flow management. Overall, the cash flow statements reflect a healthy liquidity position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	779.70M	785.99M	662.35M	537.00M	494.75M	491.26M
Gross Profit	436.07M	554.83M	492.50M	497.97M	484.22M	407.52M
EBITDA	210.20M	206.95M	175.73M	215.22M	219.74M	153.64M
Net Income	133.36M	140.64M	118.78M	152.00M	154.88M	104.39M
Balance Sheet
Total Assets	16.01B	13.79B	13.31B	11.74B	12.01B	10.93B
Cash, Cash Equivalents and Short-Term Investments	1.99B	420.42M	1.64B	1.72B	2.96B	2.02B
Total Debt	157.81M	414.98M	637.39M	787.95M	311.48M	406.73M
Total Liabilities	14.21B	12.26B	11.88B	10.57B	10.76B	9.75B
Stockholders Equity	1.81B	1.53B	1.43B	1.17B	1.25B	1.19B
Cash Flow
Free Cash Flow	181.85M	176.82M	148.20M	176.21M	151.44M	137.12M
Operating Cash Flow	189.78M	188.57M	157.46M	183.22M	159.19M	145.27M
Investing Cash Flow	13.13M	-399.16M	-44.23M	-926.22M	-547.61M	-712.59M
Financing Cash Flow	131.12M	289.46M	-105.39M	-328.73M	984.81M	1.02B

NBT Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 44.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBTB, the sentiment is Positive. The current price of 44.27 is above the 20-day moving average (MA) of 42.56, above the 50-day MA of 42.28, and above the 200-day MA of 43.88, indicating a bullish trend. The MACD of 0.70 indicates Negative momentum. The RSI at 58.68 is Neutral, neither overbought nor oversold. The STOCH value of 67.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NBTB.

NBT Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NBTB	80 Outperform	$2.32B	15.94	8.16%	3.14%	10.00%	7.35%
TRMK	80 Outperform	$2.43B	11.30	10.99%	2.37%	17.17%	―
FBK	78 Outperform	$2.89B	27.86	5.81%	1.38%	-5.80%	-22.11%
HTH	73 Outperform	$2.21B	15.78	6.62%	2.02%	3.16%	27.33%
SYBT	73 Outperform	$2.38B	18.54	13.51%	1.54%	13.28%	22.43%
PPBI	72 Outperform	$2.38B	17.16	4.59%	5.39%	23.85%	―
Sector *	68 Neutral	$17.95B	11.54	10.27%	3.74%	9.64%	1.17%

NBT Bancorp Corporate Events

NBT Bancorp Appoints New Board Members and Directors

On May 20, 2025, NBT Bancorp Inc. held its Annual Meeting of Stockholders, where David J. Nasca was appointed to the Board of Directors of both NBT Bancorp and NBT Bank. Additionally, the meeting saw the election of directors, approval of executive compensation, and ratification of KPMG as the independent accounting firm for 2025. The Board also declared a second-quarter cash dividend of $0.34 per share, payable on June 16, 2025. Heidi M. Hoeller was appointed as Chair of the Audit Committee, and Matthew J. Salanger was appointed as Lead Director following the retirements of Lowell A. Seifter and Jack H. Webb, respectively.

NBT Bancorp to Present at 2025 Annual Meeting

On May 20, 2025, NBT Bancorp Inc. will present at its 2025 Annual Meeting of Stockholders, with presentation slides available on their website. This event could impact the company’s operations and industry positioning, providing stakeholders with insights into future strategies.