NBT Bancorp (NASDAQ:NBTB) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

NBT Bancorp Inc. (NASDAQ:NBTB) shares 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 trading hands.

Analyst Ratings Changes

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

NBT Bancorp Price Performance

The company has a market capitalization of $2.67 billion, a P/E ratio of 14.62 and a beta of 0.48. The business’s 50-day simple moving average is $47.20 and its 200 day simple moving average is $44.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). NBT Bancorp had a net margin of 19.59% and a return on equity of 11.06%. The company had revenue of $184.48 million during the quarter, compared to the consensus estimate of $185.35 million. As a group, sell-side analysts anticipate that NBT Bancorp Inc. will post 4.14 EPS for the current year.

NBT Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, June 1st. NBT Bancorp’s dividend payout ratio is 42.17%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank’s stock valued at $27,000 after acquiring an additional 609 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of NBT Bancorp by 13,316.7% in the 3rd quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock worth $34,000 after purchasing an additional 799 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of NBT Bancorp by 63.8% in the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of NBT Bancorp in the 1st quarter worth approximately $37,000. Finally, Global Retirement Partners LLC raised its holdings in shares of NBT Bancorp by 62.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank’s stock worth $43,000 after purchasing an additional 399 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

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.