NBT Bancorp (NASDAQ:NBTB) Shares Pass Above Two Hundred Day Moving Average – Should You 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 $47.72 and traded as high as $51.82. NBT Bancorp shares last traded at $51.22, with a volume of 342,576 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NBTB shares. Wall Street Zen upgraded shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NBT Bancorp in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $54.00 price target (up from $52.00) on shares of NBT Bancorp in a research report on Monday, August 3rd. Piper Sandler lifted their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, DA Davidson boosted their price objective on shares of NBT Bancorp from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $54.10.

NBT Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market cap of $2.62 billion, a P/E ratio of 12.34 and a beta of 0.47. The stock has a 50-day simple moving average of $52.20 and a 200-day simple moving average of $47.78.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.01). The company had revenue of $186.69 million for the quarter, compared to analyst estimates of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Research analysts forecast that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.

NBT Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. NBT Bancorp’s payout ratio is 39.12%.

Insider Activity at NBT Bancorp

In other news, EVP Sarah Halliday sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $54.04, for a total value of $486,360.00. Following the completion of the transaction, the executive vice president owned 22,054 shares of the company’s stock, valued at $1,191,798.16. This represents a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ruth Mahoney sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total transaction of $244,350.00. Following the completion of the transaction, the executive vice president owned 11,928 shares of the company’s stock, valued at approximately $647,690.40. This trade represents a 27.39% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.99% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBTB. IFP Advisors Inc lifted its stake in shares of NBT Bancorp by 0.9% in the second quarter. IFP Advisors Inc now owns 25,034 shares of the bank’s stock worth $1,236,000 after acquiring an additional 216 shares during the period. Private Advisor Group LLC lifted its position 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 worth $247,000 after purchasing an additional 233 shares during the period. Ascent Wealth Partners LLC lifted its position in shares of NBT Bancorp by 6.1% in the 1st quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock worth $228,000 after purchasing an additional 309 shares during the period. Bessemer Group Inc. boosted 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 valued at $35,000 after purchasing an additional 324 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of NBT Bancorp during the second quarter worth $32,000. 58.46% of the stock is owned by institutional investors.

NBT Bancorp Company Profile

NBT Bancorp Inc is a bank holding company headquartered in Norwich, New York. Through its principal subsidiary, NBT Bank, the company provides a range of financial services to individuals, families, businesses and municipal entities.

NBT Bank’s offerings include checking and savings accounts, consumer and residential lending, commercial loans, mortgages, credit cards and digital banking services. Through affiliated businesses, NBT Bancorp also provides wealth management, investment services and insurance products.

Founded in 1856 as the Bank of Norwich, NBT Bank has expanded from its original New York market to serve communities across the Northeast.