NBT Bancorp (NASDAQ:NBTB) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

NBT Bancorp Inc. (NASDAQ:NBTB)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.81 and traded as high as $50.86. NBT Bancorp shares last traded at $50.61, with a volume of 291,717 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on NBTB shares. DA Davidson reaffirmed a “buy” rating and issued a $52.00 price target on shares of NBT Bancorp in a research report on Monday, April 27th. Weiss Ratings raised NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Piper Sandler raised their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Hovde Group dropped their target price on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating on the stock in a research report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.50.

NBT Bancorp Price Performance

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’s 50-day moving average price is $47.08 and its 200 day moving average price is $44.81. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 14.42 and a beta of 0.48.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The firm had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.35 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. Equities research analysts predict that NBT Bancorp Inc. will post 4.14 earnings per share for the current year.

NBT Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 1st. NBT Bancorp’s dividend payout ratio (DPR) is presently 42.17%.

Insider Buying and Selling

In related news, Director Heidi M. Hoeller sold 2,100 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $48.03, for a total value of $100,863.00. Following the completion of the transaction, the director directly owned 11,560 shares of the company’s stock, valued at $555,226.80. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth H. Mahoney sold 5,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $46.60, for a total value of $233,000.00. Following the completion of the transaction, the executive vice president directly owned 16,428 shares of the company’s stock, valued at approximately $765,544.80. This trade represents a 23.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC raised its stake in shares of NBT Bancorp by 4.2% in the 1st quarter. Private Advisor Group LLC now owns 5,809 shares of the bank’s stock valued at $247,000 after buying an additional 233 shares in the last quarter. Ascent Wealth Partners LLC boosted its position in shares of NBT Bancorp by 6.1% during the 1st quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock valued at $228,000 after acquiring an additional 309 shares in the last quarter. Inspire Investing LLC boosted its position in shares of NBT Bancorp by 2.9% during the 4th quarter. Inspire Investing LLC now owns 11,257 shares of the bank’s stock valued at $467,000 after acquiring an additional 315 shares in the last quarter. Bessemer Group Inc. increased its stake in NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock valued at $35,000 after acquiring an additional 324 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in NBT Bancorp by 1.4% in the fourth quarter. State of Alaska Department of Revenue now owns 28,929 shares of the bank’s stock valued at $1,200,000 after acquiring an additional 397 shares during the period. 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.