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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTBGet Free Report) Director John Wright sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $59.50, for a total transaction of $297,500.00. Following the transaction, the director directly owned 5,102 shares in the company, valued at approximately $303,569. The trade was a 49.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Trading Down 0.3%

Shares of NTB opened at $61.91 on Thursday. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $62.54. The firm has a market capitalization of $2.60 billion, a P/E ratio of 10.88 and a beta of 0.51. The firm has a 50-day moving average price of $59.60 and a 200 day moving average price of $55.51.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Free Report) last posted 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 for the quarter. Equities research 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 Announces Dividend

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

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently made changes to their positions in NTB. EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 523 shares during the period. PNC Financial Services Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,045 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $56,000. Los Angeles Capital Management LLC purchased a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $67,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth $114,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a research report on Monday. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Finally, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

View Our Latest Stock Report on NTB

Bank of N.T. Butterfield & Son Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Bank of N.T. Butterfield & Son (NYSE:NTB)

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