NBT Bancorp (NASDAQ:NBTB) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?
by Teresa Graham · The Cerbat GemNBT Bancorp Inc. (NASDAQ:NBTB – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $43.18 and traded as high as $45.12. NBT Bancorp shares last traded at $44.80, with a volume of 358,794 shares changing hands.
Analysts Set New Price Targets
A number of research firms have recently issued reports on NBTB. DA Davidson reiterated a “buy” rating and issued a $52.00 target price on shares of NBT Bancorp in a research note on Monday, April 27th. Weiss Ratings upgraded shares of NBT Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Janney Montgomery Scott cut shares of NBT Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, February 23rd. Brean Capital cut shares of NBT Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Finally, Hovde Group dropped their price objective on shares of NBT Bancorp from $47.00 to $46.50 and set a “market perform” rating for the company in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued 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 an average price target of $49.50.
Get Our Latest Stock Report on NBT Bancorp
NBT Bancorp Stock Up 1.6%
The firm’s 50-day moving average is $43.52 and its two-hundred day moving average is $43.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $2.33 billion, a P/E ratio of 12.76 and a beta of 0.47.
NBT Bancorp (NASDAQ:NBTB – Get Free Report) last released its earnings results on Thursday, April 23rd. The bank reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). NBT Bancorp had a return on equity of 11.06% and a net margin of 19.59%.The business had revenue of $184.48 million for the quarter, compared to analyst estimates of $185.36 million. On average, equities research analysts anticipate that NBT Bancorp Inc. will post 4.15 earnings per share for the current year.
Institutional Trading of NBT Bancorp
Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in NBT Bancorp by 195.7% during the 4th quarter. SG Americas Securities LLC now owns 71,852 shares of the bank’s stock worth $2,983,000 after acquiring an additional 47,550 shares during the period. Tudor Investment Corp ET AL acquired a new stake in NBT Bancorp during the 3rd quarter worth $4,886,000. JPMorgan Chase & Co. grew its holdings in NBT Bancorp by 26.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 334,913 shares of the bank’s stock worth $13,986,000 after acquiring an additional 70,594 shares during the period. Savant Capital LLC grew its holdings in NBT Bancorp by 168.4% during the 3rd quarter. Savant Capital LLC now owns 71,060 shares of the bank’s stock worth $2,967,000 after acquiring an additional 44,585 shares during the period. Finally, Financial Planning Hawaii Inc. acquired a new stake in NBT Bancorp during the 4th quarter worth $641,000. Institutional investors and hedge funds own 58.46% of the company’s stock.
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.