NBT Bancorp (NASDAQ:NBTB) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

NBT Bancorp Inc. (NASDAQ:NBTB) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $48.86 and traded as high as $51.02. NBT Bancorp shares last traded at $50.71, with a volume of 253,422 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on NBTB shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price target (up from $52.00) on shares of NBT Bancorp in a research note on Monday, August 3rd. Stephens downgraded shares of NBT Bancorp from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $52.00 to $55.00 in a research report on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. Wall Street Zen raised shares of NBT Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Finally, Piper Sandler boosted their price target on NBT Bancorp from $50.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.10.

NBT Bancorp Trading Up 0.3%

The business has a 50 day moving average of $51.46 and a two-hundred day moving average of $48.87. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.64 billion, a P/E ratio of 12.43 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.01). NBT Bancorp had a net margin of 22.58% and a return on equity of 11.27%. The business had revenue of $186.69 million for the quarter, compared to analyst estimates of $188.81 million. Analysts predict that NBT Bancorp Inc. will post 4.17 earnings per share for the current year.

NBT Bancorp Increases Dividend

The business also recently announced 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 was Tuesday, September 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from NBT Bancorp’s previous quarterly dividend of $0.37. NBT Bancorp’s dividend payout ratio is 39.12%.

Insider Transactions at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 9,000 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total value of $486,360.00. Following the transaction, the executive vice president 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 filing 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 transaction of $244,350.00. Following the completion of the transaction, the executive vice president directly owned 11,928 shares in the company, valued at approximately $647,690.40. This represents a 27.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.99% of the company’s stock.

Institutional Investors Weigh In On NBT Bancorp

Several hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of NBT Bancorp in the second quarter valued at approximately $32,000. Bessemer Group Inc. lifted its holdings in NBT Bancorp by 63.8% during the 1st quarter. Bessemer Group Inc. now owns 832 shares of the bank’s stock worth $35,000 after purchasing an additional 324 shares during the last quarter. Western Wealth Management LLC acquired a new stake in NBT Bancorp during the 1st quarter worth approximately $37,000. Nykredit A S bought a new stake in NBT Bancorp in the 2nd quarter valued at $45,000. Finally, Global Retirement Partners LLC bought a new stake in NBT Bancorp in the 2nd quarter valued at $49,000. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.