NBT Bancorp Q2 net income more than doubles on Evans acquisition

Overview

• U.S. regional bank's Q2 net income and EPS rose sharply from prior year

• Net interest income and margin increased, aided by Evans acquisition and organic growth

• Company raised quarterly dividend by 8.1% and repurchased $3 mln in shares

Outlook

• Company says it is well positioned entering the second half of 2026

• NBT Bancorp sees continued momentum across its banking franchise

Result Drivers

• EVANS ACQUISITION - Co said Evans Bancorp acquisition drove increases in net interest income, noninterest income, and expenses compared to prior year

• LOAN GROWTH - All business lines experienced loan growth in Q2, supporting higher net interest income

• LOWER FUNDING COSTS - Net interest margin improved due to a decrease in cost of funds

Company press release: ID:nGNX1DL6Fr

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Nbt Bancorp Inc is $52.00, about 0.7% below its July 24 closing price of $52.38

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads

• July 27 - HBT Financial Q2 adjusted EPS beats on CNB acquisition; raises dividend

• July 27 - Lakeland Financial Q2 profit rises on loan growth

• July 27 - First Farmers' Q2 profit rises on higher interest income, loan growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)