NBT Bancorp (NASDAQ:NBTB) Share Price Passes Above 200-Day Moving Average – Time to Sell?

NBT Bancorp Inc. (NASDAQ:NBTB)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.55 and traded as high as $42.65. NBT Bancorp shares last traded at $41.99, with a volume of 302,490 shares changing hands.

Analysts Set New Price Targets

NBTB has been the subject of several research analyst reports. Janney Montgomery Scott downgraded NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Weiss Ratings upgraded shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. DA Davidson initiated coverage on shares of NBT Bancorp in a research note on Wednesday, February 25th. They issued a “buy” rating and a $54.00 price target on the stock. Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Piper Sandler started coverage on shares of NBT Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NBT Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

NBT Bancorp Trading Up 3.1%

The firm has a market capitalization of $2.19 billion, a P/E ratio of 12.72 and a beta of 0.50. The stock has a 50-day simple moving average of $43.67 and a two-hundred day simple moving average of $42.55. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $185.14 million for the quarter, compared to the consensus estimate of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.5%. NBT Bancorp’s dividend payout ratio is 44.85%.

Insider Transactions at NBT Bancorp

In other NBT Bancorp news, EVP Amy Wiles sold 4,435 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total transaction of $202,768.20. Following the transaction, the executive vice president owned 21,500 shares of the company’s stock, valued at approximately $982,980. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy E. Delaney purchased 22,730 shares of the stock in a transaction dated Wednesday, January 28th. The stock was acquired at an average cost of $42.97 per share, with a total value of $976,708.10. Following the transaction, the director directly owned 74,615 shares in the company, valued at approximately $3,206,206.55. This trade represents a 43.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.03% of the company’s stock.

Institutional Trading of NBT Bancorp

A number of hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. boosted its position in NBT Bancorp by 206.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,004 shares of the bank’s stock valued at $83,000 after acquiring an additional 1,349 shares in the last quarter. Union Savings Bank bought a new position in shares of NBT Bancorp in the 4th quarter worth $306,000. Mercer Global Advisors Inc. ADV lifted its stake in shares of NBT Bancorp by 10.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 36,266 shares of the bank’s stock worth $1,506,000 after purchasing an additional 3,378 shares during the last quarter. Voloridge Investment Management LLC boosted its position in NBT Bancorp by 6.3% during the fourth quarter. Voloridge Investment Management LLC now owns 27,823 shares of the bank’s stock valued at $1,155,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Numerai GP LLC boosted its position in NBT Bancorp by 4.3% during the fourth quarter. Numerai GP LLC now owns 37,115 shares of the bank’s stock valued at $1,541,000 after purchasing an additional 1,524 shares in the last quarter. Hedge funds and other institutional investors own 58.46% of the company’s stock.

About NBT Bancorp

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.