NBT Bancorp (NBTB) AI Stock Analysis

• Market Cap: $2.22B
• Dividend Yield: 3.96%
• Average Volume (3M): 211.33K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.94
• Revenue Growth: 12.11%
• EPS Growth: 16.58%
• Country: US
• Employees: 2,083
• Sector: Financial
• Sector Strength: 74
• Industry: Banks - Regional
• EPS (TTM): 0.80
• Shares Outstanding: 52,324,040
• 10 Day Avg. Volume: 198,214
• 30 Day Avg. Volume: 211,333
• PEG Ratio: 6.47
• Price to Book (P/B): 1.19
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 11.49
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 0.69
• Enterprise Value/Gross Profit: 3.77
• Enterprise Value/Ebitda: 2.66
• 1Y Price Target: $48.00
• Price Target Upside: 13.13% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4

• Rating: 81 Outperform
• Price Target: $49.00 ▲(15.48%Upside)

NBT Bancorp's overall stock score reflects its robust financial performance, positive earnings call sentiment, and fair valuation. The company's strong profitability and efficient cash management are significant strengths. The successful integration of Evans Bancorp and the improved net interest margin are also key positive factors. While technical analysis presents a neutral outlook, the stock's valuation and income potential make it an attractive investment opportunity in the regional banking sector.

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 makes money through various revenue streams associated with traditional banking activities. The primary sources of revenue include interest income generated from loans and mortgages, fees from deposit accounts, and other banking services. The company also earns money through non-interest income, which includes service charges, fees from investment management services, and transaction-based services. Additionally, NBT Bancorp leverages partnerships with financial technology companies to enhance its service offerings, contributing to its earnings. The company's profitability is influenced by interest rate fluctuations, economic conditions, and regulatory factors impacting the banking industry.

NBT Bancorp Financial Statement Overview

Summary

NBT Bancorp exhibits strong financial health with impressive revenue growth and profitability metrics, supported by a solid balance sheet with decreasing leverage. Cash flows are stable, but there is room for improvement in capital expenditure efficiency. This positions the company well in the competitive banking sector, with a prudent approach to growth and risk management.

Income Statement

NBT Bancorp has shown a consistent growth trajectory in revenue over the years. The revenue grew from $490.37M in 2023 to $611.67M in 2024, reflecting a healthy growth rate. Gross profit margin remains robust at 100% due to the banking nature of the business. The net profit margin improved from 24.23% in 2023 to 22.99% in 2024, indicating efficient cost management despite a slight decrease. The EBIT margin has significantly increased, showcasing operational efficiency enhancements.

Balance Sheet

The balance sheet of NBT Bancorp is strong with a favorable debt-to-equity ratio, decreasing from 0.38 in 2023 to 0.13 in 2024, indicating reduced leverage risk. The return on equity (ROE) is solid at 9.21% in 2024, although slightly lower than 2023's 8.33%, reflecting effective use of equity. The equity ratio has slightly decreased, indicating a balanced approach between debt and equity financing.

Cash Flow

The cash flow statements of NBT Bancorp show a stable free cash flow with a slight increase from $148.20M in 2023 to $188.57M in 2024. The operating cash flow to net income ratio is strong, indicating the company's ability to generate cash relative to its net income. However, the free cash flow growth rate has been modest, suggesting limited efficiency improvements in capital expenditures.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	795.41M	785.99M	662.35M	537.00M	494.75M	491.26M
Gross Profit	566.86M	554.83M	492.50M	497.97M	484.22M	407.52M
EBITDA	211.10M	206.95M	175.73M	215.22M	219.74M	153.64M
Net Income	143.56M	140.64M	118.78M	152.00M	154.88M	104.39M
Balance Sheet
Total Assets	13.86B	13.79B	13.31B	11.74B	12.01B	10.93B
Cash, Cash Equivalents and Short-Term Investments	438.79M	420.42M	1.64B	1.72B	2.96B	2.02B
Total Debt	312.98M	414.98M	637.39M	787.95M	311.48M	406.73M
Total Liabilities	12.30B	12.26B	11.88B	10.57B	10.76B	9.75B
Stockholders Equity	1.57B	1.53B	1.43B	1.17B	1.25B	1.19B
Cash Flow
Free Cash Flow	180.81M	176.82M	148.20M	176.21M	151.44M	137.12M
Operating Cash Flow	193.82M	188.57M	157.46M	183.22M	159.19M	145.27M
Investing Cash Flow	-499.19M	-399.16M	-44.23M	-926.22M	-547.61M	-712.59M
Financing Cash Flow	240.36M	289.46M	-105.39M	-328.73M	984.81M	1.02B

NBT Bancorp Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 42.43
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NBTB, the sentiment is Negative. The current price of 42.43 is below the 20-day moving average (MA) of 42.88, above the 50-day MA of 42.32, and below the 200-day MA of 44.49, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 48.40 is Neutral, neither overbought nor oversold. The STOCH value of 35.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NBTB.

NBT Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NBTB	81 Outperform	$2.22B	14.03	9.55%	3.96%	12.11%	16.58%
TRMK	80 Outperform	$2.32B	10.80	10.99%	2.45%	17.67%	―
FBK	74 Outperform	$2.63B	25.46	5.81%	1.47%	-5.60%	-22.11%
PPBI	73 Outperform	$2.15B	14.46	4.94%	5.96%	23.09%	1086.91%
SYBT	72 Outperform	$2.30B	18.83	31.33%	1.52%	13.22%	22.43%
HTH	71 Outperform	$2.01B	15.93	5.89%	2.77%	2.60%	14.96%
Sector *	68 Neutral	$17.10B	11.62	9.70%	3.86%	11.32%	-7.37%

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.

The most recent analyst rating on (NBTB) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on NBT Bancorp stock, see the NBTB Stock Forecast page.

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.

The most recent analyst rating on (NBTB) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on NBT Bancorp stock, see the NBTB Stock Forecast page.

NBT Bancorp Updates Investor Presentation Strategy

On May 14, 2025, NBT Bancorp Inc. announced that its executive management team will use a new presentation in future meetings with investors and analysts. The presentation slides are accessible on the company’s website, potentially impacting investor relations and market communication strategies.

The most recent analyst rating on (NBTB) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on NBT Bancorp stock, see the NBTB Stock Forecast page.