NBT Bancorp (NASDAQ:NBTB) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• NBT Bancorp shares rose above their 200-day moving average, trading as high as $51.02 versus the $48.86 average. The stock currently has a consensus “Hold” rating and an average analyst price target of $54.10.
• The bank’s latest quarterly results slightly missed expectations, with earnings of $1.01 per share and revenue of $186.69 million. Analysts expect full-year earnings of approximately $4.17 per share.
• NBT Bancorp increased its quarterly dividend to $0.40 per share, implying a 3.2% yield and a 39.12% payout ratio. Two executive vice presidents recently sold shares, while institutional investors own 58.46% of the company.

NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NBTB. Wall Street Zen raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. DA Davidson raised their target price on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Piper Sandler raised their target price on shares of NBT Bancorp from $50.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Stephens downgraded shares of NBT Bancorp from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $52.00 to $55.00 in a research report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $54.00 price target (up from $52.00) on shares of NBT Bancorp in a report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $54.10.

NBT Bancorp Stock Performance

The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 12.40 and a beta of 0.49. The firm has a fifty day moving average of $51.50 and a 200 day moving average of $48.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.87 and a quick ratio of 0.87.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The bank reported $1.01 earnings per share 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 company had revenue of $186.69 million for the quarter, compared to analysts' expectations of $188.81 million. On average, sell-side analysts anticipate that NBT Bancorp Inc. will post 4.17 earnings per share for the current fiscal year.

NBT Bancorp Increases Dividend

The company also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from NBT Bancorp's previous quarterly dividend of $0.37. NBT Bancorp's dividend payout ratio is 39.12%.

Insider Buying and Selling

In other news, EVP Sarah Halliday sold 9,000 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.04, for a total transaction of $486,360.00. Following the completion of the transaction, the executive vice president directly owned 22,054 shares of the company's stock, valued at $1,191,798.16. The trade was a 28.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth Mahoney sold 4,500 shares of NBT Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total transaction of $244,350.00. Following the transaction, the executive vice president directly owned 11,928 shares of the company's stock, valued at approximately $647,690.40. This trade represents a 27.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.99% of the stock is owned by company insiders.

Institutional Trading of NBT Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of NBT Bancorp in the second quarter worth about $32,000. Bessemer Group Inc. boosted its stake in shares of 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 acquiring an additional 324 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of NBT Bancorp during the 1st quarter worth about $37,000. Nykredit A S acquired a new stake in shares of NBT Bancorp during the 2nd quarter valued at about $45,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of NBT Bancorp during the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 58.46% of the company's stock.

About NBT Bancorp

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.

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