NBT Bancorp (NASDAQ:NBTB) Shares Cross Above 200-Day Moving Average – Should You Sell?

NBT Bancorp Inc. (NASDAQ:NBTB)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $48.50 and traded as high as $50.38. NBT Bancorp shares last traded at $50.18, with a volume of 407,844 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NBTB shares. Piper Sandler increased their price objective on NBT Bancorp from $50.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Stephens cut shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $52.00 to $55.00 in a report on Thursday, July 30th. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. DA Davidson boosted their price target 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. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $54.00 price objective (up from $52.00) on shares of NBT Bancorp in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.10.

NBT Bancorp Stock Down 0.9%

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 company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 12.24 and a beta of 0.49. The firm’s 50-day simple moving average is $51.78 and its two-hundred day simple moving average is $48.57.

NBT Bancorp (NASDAQ:NBTB) last released its quarterly earnings data on Monday, July 27th. The bank reported $1.01 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.01). The business had revenue of $186.69 million during the quarter, compared to analysts’ expectations of $188.81 million. NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%. Sell-side analysts predict that NBT Bancorp Inc. will post 4.17 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a $0.40 dividend. This is a positive change from NBT Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, September 1st. This represents a $1.60 annualized dividend and a yield of 3.2%. NBT Bancorp’s dividend payout ratio (DPR) is presently 39.12%.

Insiders Place Their Bets

In related news, EVP Sarah A. Halliday sold 9,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 22,054 shares in the company, valued at approximately $1,191,798.16. This represents a 28.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ruth H. Mahoney sold 4,500 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the completion of the sale, 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 institutional investors have recently modified their holdings of NBTB. IFP Advisors Inc boosted its holdings in shares of NBT Bancorp by 0.9% in the 2nd quarter. IFP Advisors Inc now owns 25,034 shares of the bank’s stock valued at $1,236,000 after buying an additional 216 shares during the period. Private Advisor Group LLC grew its position in shares of NBT Bancorp by 4.2% during 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 during the last quarter. Farther Finance Advisors LLC raised its stake in NBT Bancorp by 7.5% during the third quarter. Farther Finance Advisors LLC now owns 3,622 shares of the bank’s stock worth $182,000 after acquiring an additional 254 shares during the period. Ascent Wealth Partners LLC raised its stake in NBT Bancorp by 6.1% during the first quarter. Ascent Wealth Partners LLC now owns 5,353 shares of the bank’s stock worth $228,000 after acquiring an additional 309 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in NBT Bancorp by 63.8% in the first quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after acquiring an additional 324 shares during the last quarter. Institutional investors and hedge funds own 58.46% of the company’s stock.

NBT Bancorp Company Profile

NBT Bancorp Inc is a financial holding company headquartered in Norwich, New York. Its principal subsidiary, NBT Bank, is a community bank that provides banking and financial services to individuals, families, businesses, and municipalities.

NBT Bank offers deposit accounts, residential and consumer lending, commercial loans, mortgage services, cash-management solutions, and online and mobile banking. Through its related businesses, the company also provides wealth management, investment services, retirement planning, and insurance products.

Founded in 1856, NBT Bancorp serves communities across the Northeastern United States, including markets in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut.