NBT Bancorp (NASDAQ:NBTB) Stock Price Passes Above 200 Day Moving Average – What’s Next?

NBT Bancorp Inc. (NASDAQ:NBTB) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $42.79 and traded as high as $43.30. NBT Bancorp shares last traded at $43.01, with a volume of 186,022 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NBTB shares. Weiss Ratings raised shares of NBT Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Janney Montgomery Scott cut NBT Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, February 23rd. DA Davidson assumed coverage on shares of NBT Bancorp in a research report on Wednesday, February 25th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Brean Capital lowered shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.33.

NBT Bancorp Stock Down 1.9%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The company’s fifty day moving average is $43.90 and its 200-day moving average is $42.78. The company has a market capitalization of $2.17 billion, a PE ratio of 12.62 and a beta of 0.50.

NBT Bancorp (NASDAQ:NBTB) last released its earnings results on Monday, January 26th. The bank reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $185.14 million during the quarter, compared to analysts’ expectations of $183.63 million. NBT Bancorp had a return on equity of 10.86% and a net margin of 18.67%. As a group, analysts predict that NBT Bancorp Inc. will post 3.69 EPS for the current fiscal year.

NBT Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.37 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 3.6%. NBT Bancorp’s dividend payout ratio (DPR) is presently 44.85%.

Insider Activity

In related news, EVP Amy Wiles sold 4,435 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $45.72, for a total value of $202,768.20. Following the completion of the transaction, the executive vice president owned 21,500 shares of the company’s stock, valued at $982,980. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy E. Delaney acquired 22,730 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were bought at an average price of $42.97 per share, with a total value of $976,708.10. Following the completion of the purchase, the director directly owned 74,615 shares in the company, valued at $3,206,206.55. The trade was a 43.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.03% of the company’s stock.

Hedge Funds Weigh In On NBT Bancorp

A number of large investors have recently added to or reduced their stakes in NBTB. Union Savings Bank purchased a new position in shares of NBT Bancorp in the fourth quarter worth $306,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of NBT Bancorp by 10.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,266 shares of the bank’s stock valued at $1,506,000 after buying an additional 3,378 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of NBT Bancorp by 6.3% in the 4th quarter. Voloridge Investment Management LLC now owns 27,823 shares of the bank’s stock valued at $1,155,000 after acquiring an additional 1,645 shares during the period. Numerai GP LLC raised its stake in NBT Bancorp by 4.3% in the 4th quarter. Numerai GP LLC now owns 37,115 shares of the bank’s stock worth $1,541,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Occudo Quantitative Strategies LP lifted its position in NBT Bancorp by 87.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 23,924 shares of the bank’s stock worth $993,000 after acquiring an additional 11,161 shares during the period. 58.46% of the stock is currently owned by institutional investors.

About NBT Bancorp

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.