John Wright Sells 5,000 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director John Wright sold 5,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $59.50, for a total value of $297,500.00. Following the transaction, the director owned 5,102 shares of the company’s stock, valued at approximately $303,569. This represents a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Trading Up 0.2%

Shares of NTB opened at $61.98 on Friday. The firm has a market cap of $2.60 billion, a P/E ratio of 10.89 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $62.54. The company’s 50-day moving average price is $59.70 and its 200 day moving average price is $55.59.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The company had revenue of $159.00 million during the quarter. Equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after buying an additional 523 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the third quarter worth $56,000. Los Angeles Capital Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $114,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.