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

Key Points

• NBT Bancorp shares crossed above the 200-day moving average, reaching $50.38 and last trading near $50.18, though still below the 50-day average of $51.82.
• Analyst sentiment is mixed but leans cautious: three analysts rate the stock a Buy and five rate it a Hold, producing an overall “Hold” rating and an average price target of $54.10.
• The bank narrowly missed quarterly earnings and revenue estimates, but raised its quarterly dividend to $0.40 per share, implying a 3.2% yield. Two executives also recently sold shares, while institutional investors own 58.46% of the company.

Shares of NBT Bancorp Inc. (NASDAQ:NBTB - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $48.50 and traded as high as $50.38. NBT Bancorp shares last traded at $50.18, with a volume of 407,844 shares trading hands.

Wall Street Analysts Forecast Growth

NBTB has been the subject of several recent analyst reports. Wall Street Zen upgraded NBT Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Weiss Ratings restated a "buy (b)" rating on shares of NBT Bancorp in a research note on Tuesday, July 21st. DA Davidson lifted their price target on shares of NBT Bancorp from $52.00 to $59.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Piper Sandler boosted their price objective on shares of NBT Bancorp from $50.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Finally, Stephens cut shares of NBT Bancorp from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $52.00 to $55.00 in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $54.10.

NBT Bancorp Stock Down 1.0%

The company's 50-day moving average price is $51.82 and its 200 day moving average price is $48.50. 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 stock has a market cap of $2.61 billion, a PE ratio of 12.27 and a beta of 0.49.

NBT Bancorp (NASDAQ:NBTB - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The bank reported $1.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.01). NBT Bancorp had a return on equity of 11.27% and a net margin of 22.58%.The business had revenue of $186.69 million during the quarter, compared to analysts' expectations of $188.81 million. As a group, analysts forecast that NBT Bancorp Inc. will post 4.17 EPS for the current fiscal year.

NBT Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given 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 payout ratio is presently 39.12%.

Insider Buying and Selling at NBT Bancorp

In related news, EVP Sarah A. Halliday sold 9,000 shares of NBT Bancorp 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 transaction, the executive vice president directly owned 22,054 shares in the company, valued at approximately $1,191,798.16. The trade was a 28.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ruth H. Mahoney sold 4,500 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $54.30, for a total value of $244,350.00. Following the sale, the executive vice president directly owned 11,928 shares of the company's stock, valued at $647,690.40. This represents a 27.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.99% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NBTB. BlackRock Inc. bought a new position in shares of NBT Bancorp during the 2nd quarter valued at approximately $369,183,000. Dimensional Fund Advisors LP increased its holdings in NBT Bancorp by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,330,975 shares of the bank's stock worth $99,252,000 after acquiring an additional 30,141 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in NBT Bancorp by 29.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 560,259 shares of the bank's stock worth $23,856,000 after acquiring an additional 128,316 shares during the period. Bank of New York Mellon Corp bought a new stake in NBT Bancorp during the 2nd quarter worth approximately $22,685,000. Finally, Ceredex Value Advisors LLC purchased a new position in NBT Bancorp during the second quarter valued at approximately $13,673,000. Institutional investors own 58.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.