NBT Bancorp (NASDAQ:NBTB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

NBT Bancorp Inc. (NASDAQ:NBTB) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.08 and traded as high as $44.67. NBT Bancorp shares last traded at $44.46, with a volume of 227,189 shares traded.

Analyst Ratings Changes

A number of equities analysts have commented on NBTB shares. DA Davidson downgraded shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of NBT Bancorp in a research report on Wednesday, October 8th. Piper Sandler set a $47.00 price objective on shares of NBT Bancorp and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Finally, Janney Montgomery Scott upgraded shares of NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.25.

NBT Bancorp Price Performance

The company has a market capitalization of $2.33 billion, a P/E ratio of 14.82 and a beta of 0.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10. The business has a 50 day simple moving average of $41.47 and a 200-day simple moving average of $42.08.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.97 by $0.08. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. The business had revenue of $186.07 million during the quarter, compared to analyst estimates of $183.87 million. Analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.37 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.48 annualized dividend and a yield of 3.3%. NBT Bancorp’s dividend payout ratio is 49.33%.

Insider Buying and Selling at NBT Bancorp

In other NBT Bancorp news, Director Timothy E. Delaney purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were bought at an average price of $40.98 per share, with a total value of $409,800.00. Following the completion of the acquisition, the director owned 51,885 shares in the company, valued at approximately $2,126,247.30. This represents a 23.87% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.03% of the company’s stock.

Institutional Trading of NBT Bancorp

Several large investors have recently added to or reduced their stakes in NBTB. LPL Financial LLC boosted its position in NBT Bancorp by 3.9% during the 1st quarter. LPL Financial LLC now owns 33,294 shares of the bank’s stock worth $1,428,000 after acquiring an additional 1,250 shares during the period. Nuveen LLC bought a new stake in shares of NBT Bancorp during the first quarter valued at about $5,159,000. Raymond James Financial Inc. raised its stake in shares of NBT Bancorp by 3.6% during the first quarter. Raymond James Financial Inc. now owns 513,243 shares of the bank’s stock valued at $22,018,000 after purchasing an additional 18,035 shares in the last quarter. AlphaQuest LLC lifted its holdings in NBT Bancorp by 13.2% in the first quarter. AlphaQuest LLC now owns 10,325 shares of the bank’s stock worth $443,000 after purchasing an additional 1,200 shares during the period. Finally, Royal Bank of Canada grew its position in NBT Bancorp by 22.3% in the 1st quarter. Royal Bank of Canada now owns 40,303 shares of the bank’s stock valued at $1,729,000 after buying an additional 7,349 shares in the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

NBT Bancorp Company Profile

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 indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.