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

NBT Bancorp Inc. (NASDAQ:NBTB)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.63 and traded as high as $46.54. NBT Bancorp shares last traded at $46.43, with a volume of 289,686 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NBTB shares. Piper Sandler started coverage on NBT Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.00 target price on the stock. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. DA Davidson reissued a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Brean Capital cut NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.50.

NBT Bancorp Price Performance

The firm has a 50 day moving average price of $44.70 and a 200 day moving average price of $43.63. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.41 billion, a P/E ratio of 13.23 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.36 million. On average, analysts forecast that NBT Bancorp Inc. will post 4.15 EPS for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.2%. NBT Bancorp’s dividend payout ratio (DPR) is 42.17%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new position in shares of NBT Bancorp in the first quarter worth about $37,000. Bank of America Corp DE raised its stake in shares of NBT Bancorp by 32.5% in the first quarter. Bank of America Corp DE now owns 161,740 shares of the bank’s stock worth $6,887,000 after buying an additional 39,665 shares during the period. Edgestream Partners L.P. bought a new stake in NBT Bancorp during the 1st quarter valued at approximately $3,590,000. Amundi raised its stake in NBT Bancorp by 13.0% during the 1st quarter. Amundi now owns 8,497 shares of the bank’s stock valued at $362,000 after purchasing an additional 980 shares during the period. Finally, Empowered Funds LLC bought a new stake in NBT Bancorp during the 1st quarter valued at approximately $1,545,000. 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.