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

NBT Bancorp Inc. (NASDAQ:NBTB)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.08 and traded as high as $44.67. NBT Bancorp shares last traded at $44.46, with a volume of 227,189 shares trading hands.

Wall Street Analyst Weigh In

NBTB has been the subject of a number of research reports. Janney Montgomery Scott raised shares of NBT Bancorp to a “strong-buy” rating in a research report on Wednesday, October 22nd. DA Davidson downgraded NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NBT Bancorp in a research note on Wednesday, October 8th. Finally, Piper Sandler set a $47.00 price target on NBT Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.25.

NBT Bancorp Trading Up 0.6%

The business’s 50-day simple moving average is $41.47 and its two-hundred day simple moving average is $42.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $2.33 billion, a PE ratio of 14.82 and a beta of 0.51.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings results on Monday, October 27th. The bank reported $1.05 EPS for the quarter, topping the consensus estimate of $0.97 by $0.08. The business had revenue of $186.07 million for the quarter, compared to analysts’ expectations of $183.87 million. NBT Bancorp had a return on equity of 10.35% and a net margin of 17.24%. On average, analysts predict that NBT Bancorp Inc. will post 3.69 earnings per share for the current year.

NBT Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, December 1st. NBT Bancorp’s dividend payout ratio is presently 49.33%.

Insider Activity at NBT Bancorp

In related news, Director Timothy E. Delaney purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was acquired at an average price of $40.98 per share, with a total value of $409,800.00. Following the completion of the transaction, the director owned 51,885 shares of the company’s stock, valued at $2,126,247.30. This represents a 23.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 609 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in NBT Bancorp in the second quarter worth about $33,000. Larson Financial Group LLC increased its holdings in NBT Bancorp by 13,316.7% in the third quarter. Larson Financial Group LLC now owns 805 shares of the bank’s stock valued at $34,000 after buying an additional 799 shares during the last quarter. Flagship Wealth Advisors LLC acquired a new stake in NBT Bancorp during the third quarter valued at approximately $42,000. Finally, Allworth Financial LP acquired a new stake in NBT Bancorp during the third quarter valued at approximately $46,000. 58.46% of the stock is owned by institutional investors and hedge funds.

About NBT Bancorp

NBT Bancorp Inc, a financial holding company, provides commercial banking, retail banking, and wealth management services. Its deposit products include demand deposit, savings, negotiable order of withdrawal, money market deposit, and certificate of deposit accounts. The company's loan portfolio comprises indirect and direct consumer, home equity, mortgages, business banking loans, and commercial loans; commercial and industrial, commercial real estate, agricultural, and commercial construction loans; and residential real estate loans.