NBT Bancorp (NASDAQ:NBTB) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• NBT Bancorp shares rose above their 200-day moving average during Monday trading, reaching as high as $50.86 and last trading near $50.61. The move came on volume of 291,717 shares.
• Analyst sentiment is mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $51.50. Recent calls included a higher target from Piper Sandler at $56 and a buy rating from DA Davidson, while Hovde Group trimmed its target slightly to $46.50.
• The bank’s latest earnings narrowly missed expectations, reporting $0.97 EPS versus the $0.98 estimate, along with revenue of $184.48 million versus $185.35 million expected. NBT Bancorp also pays a quarterly dividend of $0.37, yielding about 2.9% annually.

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $44.81 and traded as high as $50.86. NBT Bancorp shares last traded at $50.61, with a volume of 291,717 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on NBTB. Hovde Group dropped their price objective on NBT Bancorp from $47.00 to $46.50 and set a "market perform" rating on the stock in a report on Monday, April 27th. Weiss Ratings upgraded shares of NBT Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. DA Davidson reissued a "buy" rating and issued a $52.00 target price on shares of NBT Bancorp in a research report on Monday, April 27th. Finally, Piper Sandler increased their price target on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.50.

NBT Bancorp Stock Up 0.7%

The business has a 50-day simple moving average of $47.08 and a two-hundred day simple moving average of $44.81. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 14.42 and a beta of 0.48. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.09.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $184.48 million for the quarter, compared to the consensus estimate of $185.35 million. NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%. As a group, equities analysts forecast that NBT Bancorp Inc. will post 4.14 earnings per share for the current fiscal year.

NBT Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, June 1st. NBT Bancorp's payout ratio is 42.17%.

Insider Buying and Selling

In other NBT Bancorp news, EVP Ruth H. Mahoney sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $46.60, for a total transaction of $233,000.00. Following the completion of the sale, the executive vice president owned 16,428 shares of the company's stock, valued at $765,544.80. This represents a 23.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heidi M. Hoeller sold 2,100 shares of NBT Bancorp stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $48.03, for a total transaction of $100,863.00. Following the completion of the transaction, the director directly owned 11,560 shares in the company, valued at approximately $555,226.80. This represents a 15.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBTB. EverSource Wealth Advisors LLC raised its holdings in NBT Bancorp by 1,645.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 646 shares of the bank's stock worth $27,000 after acquiring an additional 609 shares during the period. Larson Financial Group LLC boosted its holdings in NBT Bancorp by 13,316.7% during the third quarter. Larson Financial Group LLC now owns 805 shares of the bank's stock valued at $34,000 after acquiring an additional 799 shares during the period. Bessemer Group Inc. boosted its holdings in NBT Bancorp by 63.8% during the first quarter. Bessemer Group Inc. now owns 832 shares of the bank's stock valued at $35,000 after acquiring an additional 324 shares during the period. Western Wealth Management LLC acquired a new stake in shares of NBT Bancorp in the first quarter valued at about $37,000. Finally, Global Retirement Partners LLC grew its position in shares of NBT Bancorp by 62.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,037 shares of the bank's stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. 58.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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