NBT Bancorp (NASDAQ:NBTB) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

NBT Bancorp Inc. (NASDAQ:NBTB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.27 and traded as high as $42.59. NBT Bancorp shares last traded at $42.13, with a volume of 104,144 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBTB. Janney Montgomery Scott upgraded NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. Piper Sandler set a $47.00 price objective on NBT Bancorp and gave the company an “overweight” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a research note on Monday, December 29th. Finally, DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, NBT Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.25.

NBT Bancorp Stock Down 0.9%

The company has a fifty day moving average of $42.16 and a 200 day moving average of $42.27. 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 company has a market cap of $2.20 billion, a P/E ratio of 14.04 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last issued its quarterly earnings results on Monday, October 27th. The bank reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.08. The business had revenue of $186.07 million for the quarter, compared to the consensus estimate of $183.87 million. NBT Bancorp had a net margin of 17.24% and a return on equity of 10.35%. On average, research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, December 1st. NBT Bancorp’s dividend payout ratio is presently 49.33%.

Insider Transactions at NBT Bancorp

In related news, Director Timothy E. Delaney purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was purchased at an average price of $40.98 per share, with a total value of $409,800.00. Following the completion of the purchase, the director owned 51,885 shares of the company’s stock, valued at approximately $2,126,247.30. The trade was a 23.87% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 3.03% of the stock is currently owned by company insiders.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock worth $27,000 after buying an additional 609 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in NBT Bancorp during the 2nd quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in shares of NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after buying an additional 799 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in shares of NBT Bancorp during the third quarter worth $42,000. Finally, Allworth Financial LP purchased a new stake in shares of NBT Bancorp during the third quarter valued at $46,000. Institutional investors own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp, Inc (NASDAQ: NBTB) is the bank holding company for NBT Bank, N.A., a full-service commercial bank that serves both individual and corporate clients across the Northeastern United States. Through its branch network and digital channels, the company offers a comprehensive range of commercial banking services, including business lending, treasury management, cash management and specialized industry financing. Its consumer banking platform provides checking and savings accounts, certificates of deposit, home mortgages, home equity lines of credit and other lending solutions tailored to meet personal and household financial needs.

In addition to traditional banking, NBT Bancorp delivers wealth management and fiduciary services through its trust division, offering investment advisory, trust administration, retirement planning and estate settlement.