NBT Bancorp (NASDAQ:NBTB) Shares Pass Above 200-Day Moving Average – Time to Sell?

NBT Bancorp Inc. (NASDAQ:NBTB)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.27 and traded as high as $42.59. NBT Bancorp shares last traded at $42.13, with a volume of 104,144 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Piper Sandler set a $47.00 price target on shares of NBT Bancorp and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Janney Montgomery Scott upgraded NBT Bancorp to a “strong-buy” rating in a research note on Wednesday, October 22nd. DA Davidson lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NBT Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, NBT Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

NBT Bancorp Stock Down 0.9%

The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 14.04 and a beta of 0.50. The stock’s fifty day moving average price is $42.16 and its 200-day moving average price is $42.27. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.10.

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

NBT Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.37 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.5%. NBT Bancorp’s dividend payout ratio (DPR) is presently 49.33%.

Insider Activity

In other news, Director Timothy E. Delaney acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average cost of $40.98 per share, with a total value of $409,800.00. Following the completion of the purchase, the director directly owned 51,885 shares of the company’s stock, valued at $2,126,247.30. The trade was a 23.87% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.03% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

A number of institutional investors have recently added to or reduced their stakes in NBTB. State Street Corp increased its holdings in NBT Bancorp by 7.8% in the 2nd quarter. State Street Corp now owns 2,531,336 shares of the bank’s stock worth $105,177,000 after purchasing an additional 182,793 shares in the last quarter. Geode Capital Management LLC grew its holdings in NBT Bancorp by 10.8% in the second quarter. Geode Capital Management LLC now owns 1,298,769 shares of the bank’s stock worth $53,971,000 after purchasing an additional 126,718 shares during the period. Victory Capital Management Inc. increased its stake in NBT Bancorp by 1.1% in the third quarter. Victory Capital Management Inc. now owns 650,125 shares of the bank’s stock valued at $27,149,000 after purchasing an additional 7,253 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of NBT Bancorp by 63.2% during the second quarter. The Manufacturers Life Insurance Company now owns 451,047 shares of the bank’s stock valued at $18,741,000 after purchasing an additional 174,639 shares during the period. Finally, PL Capital Advisors LLC bought a new position in shares of NBT Bancorp in the second quarter valued at $16,326,000. 58.46% of the stock is currently 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.