Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Get Free Report) Director Michael Mcwatt sold 9,000 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $58.41, for a total transaction of $525,690.00. Following the completion of the sale, the director directly owned 13,544 shares in the company, valued at $791,105.04. This trade represents a 39.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Michael Mcwatt also recently made the following trade(s):
- On Wednesday, August 5th, Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son stock. The stock was sold at an average price of $61.78, for a total transaction of $741,360.00.
Bank of N.T. Butterfield & Son Price Performance
Shares of NYSE:NTB traded up $0.36 during trading hours on Wednesday, hitting $58.71. 208,296 shares of the company’s stock traded hands, compared to its average volume of 179,994. The firm has a market capitalization of $2.46 billion, a P/E ratio of 10.32 and a beta of 0.51. The business has a fifty day moving average price of $60.63 and a 200-day moving average price of $56.50. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $64.17.
Bank of N.T. Butterfield & Son Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is 35.15%.
Institutional Trading of Bank of N.T. Butterfield & Son
Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings 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 purchasing an additional 523 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of 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 worth $46,000 after buying an additional 1,045 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth $56,000. Los Angeles Capital Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth $67,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $114,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.
Analysts Set New Price Targets
NTB has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company raised 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 research note on Monday, June 8th. One 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, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and an average price target of $63.50.
Read Our Latest Analysis on NTB
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.
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