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

Key Points

• NBT Bancorp shares crossed above their 200-day moving average, reaching $51.82 before closing around $51.22, compared with the 200-day average of $47.72.
• Analyst sentiment is mixed but generally positive: three analysts rate the stock a Buy and five rate it Hold, producing an average rating of Hold and a consensus price target of $54.10.
• The company raised its quarterly dividend to $0.40 per share, equivalent to an annualized $1.60 payout and a 3.1% yield. Its latest quarterly earnings and revenue slightly missed analyst expectations, while two executives recently sold shares.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $47.72 and traded as high as $51.82. NBT Bancorp shares last traded at $51.22, with a volume of 342,576 shares traded.

Wall Street Analyst Weigh In

NBTB has been the subject of a number of research reports. DA Davidson lifted 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. Stephens cut NBT Bancorp from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $52.00 to $55.00 in a report on Thursday, July 30th. Piper Sandler lifted their price objective on NBT Bancorp from $50.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, June 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of NBT Bancorp in a report on Tuesday, July 21st. Finally, Wall Street Zen raised shares of NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $54.10.

NBT Bancorp Stock Down 0.6%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $2.66 billion, a PE ratio of 12.52 and a beta of 0.47. The firm has a fifty day simple moving average of $52.19 and a 200 day simple moving average of $47.72.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 11.27% and a net margin of 22.58%.The company had revenue of $186.69 million for the quarter, compared to analysts' expectations of $188.81 million. Equities research analysts predict that NBT Bancorp Inc. will post 4.15 EPS for the current year.

NBT Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 1st. This is an increase from NBT Bancorp's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 3.1%. NBT Bancorp's payout ratio is 39.12%.

Insider Transactions at NBT Bancorp

In related news, EVP Ruth H. Mahoney sold 4,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the transaction, the executive vice president owned 11,928 shares in the company, valued at approximately $647,690.40. This trade represents a 27.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $486,360.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 2.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NBT Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in NBT Bancorp in the second quarter valued at $219,000. IFP Advisors Inc increased 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 worth $1,236,000 after acquiring an additional 216 shares during the period. Baird Financial Group Inc. lifted its position in NBT Bancorp by 6.1% in the 2nd quarter. Baird Financial Group Inc. now owns 45,569 shares of the bank's stock valued at $2,250,000 after purchasing an additional 2,638 shares during the last quarter. Nykredit A S bought a new stake in NBT Bancorp in the 2nd quarter valued at about $45,000. Finally, Corient Private Wealth LP acquired a new stake in shares of NBT Bancorp in the second quarter valued at approximately $233,000. Institutional investors and hedge funds own 58.46% of the company's stock.

About NBT Bancorp

NBT Bancorp Inc is a bank holding company headquartered in Norwich, New York. Through its principal subsidiary, NBT Bank, the company provides a range of financial services to individuals, families, businesses and municipal entities.

NBT Bank's offerings include checking and savings accounts, consumer and residential lending, commercial loans, mortgages, credit cards and digital banking services. Through affiliated businesses, NBT Bancorp also provides wealth management, investment services and insurance products.

Founded in 1856 as the Bank of Norwich, NBT Bank has expanded from its original New York market to serve communities across the Northeast.

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