Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTBGet Free Report)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $60.68 and traded as low as $59.21. Bank of N.T. Butterfield & Son shares last traded at $59.6460, with a volume of 172,357 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTB. Wells Fargo & Company boosted their price target on 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. Keefe, Bruyette & Woods raised 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, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $63.50.

Check Out Our Latest Stock Analysis on Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Stock Performance

The stock has a market capitalization of $2.58 billion, a PE ratio of 10.81 and a beta of 0.51. The company’s fifty day simple moving average is $60.71 and its two-hundred day simple moving average is $56.82.

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 (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 firm had revenue of $159.00 million for the quarter. Sell-side analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 12th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son’s payout ratio is presently 35.15%.

Insider Activity at Bank of N.T. Butterfield & Son

In other news, insider Tara Hidalgo sold 18,587 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,138,825.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael McWatt sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $58.41, for a total transaction of $525,690.00. Following the transaction, the director directly owned 13,544 shares in the company, valued at $791,105.04. The trade was a 39.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 356,429 shares of company stock worth $21,711,506 over the last three months. Company insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Seelaus Asset Management LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 4.1% during the fourth quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after purchasing an additional 250 shares during the last quarter. Raymond James Financial Inc. increased its stake in Bank of N.T. Butterfield & Son by 5.6% in the third quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock valued at $264,000 after purchasing an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 33.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock worth $95,000 after buying an additional 456 shares during the period. Cerity Partners LLC lifted its position in Bank of N.T. Butterfield & Son by 3.2% during the second quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock worth $654,000 after buying an additional 457 shares during the period. Finally, ProShare Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock worth $380,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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.

See Also

Receive News & Ratings for Bank of N.T. Butterfield & Son Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son and related companies with MarketBeat.com's FREE daily email newsletter.