Bank of N.T. Butterfield & Son (NYSE:NTB) Director Acquires $564,900.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Mark Lynch bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $56.49 per share, with a total value of $564,900.00. Following the completion of the transaction, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB traded up $0.98 on Tuesday, reaching $57.44. 217,137 shares of the company’s stock traded hands, compared to its average volume of 172,749. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 9.83 and a beta of 0.51. The stock has a 50 day moving average price of $55.02 and a 200-day moving average price of $51.91. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $57.85.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $155.93 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. As a group, equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.32 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a $0.50 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.5%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 34.60%.

Bank of N.T. Butterfield & Son declared that its Board of Directors has authorized a share repurchase program on Monday, February 9th that permits the company to repurchase $3.00 million in shares. This repurchase authorization permits the bank to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Bank of N.T. Butterfield & Son

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Bank of N.T. Butterfield & Son by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after acquiring an additional 33,493 shares in the last quarter. American Century Companies Inc. grew its stake in Bank of N.T. Butterfield & Son by 10.2% during the 3rd quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock valued at $65,140,000 after acquiring an additional 140,041 shares in the last quarter. Invesco Ltd. grew its stake in shares of Bank of N.T. Butterfield & Son by 6.3% in the 4th quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock valued at $51,143,000 after buying an additional 60,796 shares during the period. Nuveen LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 1.2% in the 4th quarter. Nuveen LLC now owns 906,502 shares of the bank’s stock valued at $45,162,000 after buying an additional 10,852 shares during the period. Finally, LSV Asset Management grew its stake in shares of 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 buying an additional 172,666 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

NTB has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Bank of N.T. Butterfield & Son Company Profile

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.