Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells $741,360.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $61.78, for a total value of $741,360.00. Following the sale, the director directly owned 22,544 shares of the company’s stock, valued at approximately $1,392,768.32. This represents a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bank of N.T. Butterfield & Son Trading Up 0.6%

Shares of NTB stock opened at $62.35 on Friday. The company has a market capitalization of $2.61 billion, a P/E ratio of 10.96 and a beta of 0.51. The business’s 50 day moving average is $59.82 and its two-hundred day moving average is $55.64. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $62.54.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%.The business had revenue of $159.00 million during the quarter. As a group, equities analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid 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 (DPR) is 35.15%.

Analyst Ratings Changes

Several research analysts recently issued reports on NTB shares. Wells Fargo & Company increased their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Zacks Research cut 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 reissued 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 raised their price target on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in shares of Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after acquiring an additional 155,784 shares in the last quarter. LSV Asset Management increased its stake in Bank of N.T. Butterfield & Son by 26.5% in the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after purchasing an additional 172,666 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Bank of N.T. Butterfield & Son by 16.7% during the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after purchasing an additional 19,327 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Bank of N.T. Butterfield & Son during the first quarter worth $1,382,000. Finally, Globeflex Capital L P boosted its position in Bank of N.T. Butterfield & Son by 24.1% during the fourth quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock worth $6,496,000 after purchasing an additional 25,349 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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.