Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $56.66 and traded as low as $55.92. Bank of N.T. Butterfield & Son shares last traded at $56.11, with a volume of 175,710 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on NTB. Keefe, Bruyette & Woods boosted their target price 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, August 3rd. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, September 29th. Finally, Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.50.
View Our Latest Stock Report on NTB
Bank of N.T. Butterfield & Son Stock Performance
The stock has a market cap of $2.35 billion, a P/E ratio of 9.79 and a beta of 0.55. The company’s fifty day moving average price is $58.92 and its 200-day moving average price is $56.66.
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.09. The firm had revenue of $162.24 million for the quarter, compared to the consensus estimate of $160.90 million. Bank of N.T. Butterfield & Son had a return on equity of 22.45% and a net margin of 29.21%. During the same period in the prior year, the business posted $1.51 earnings per share. Analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.30 earnings per share for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 34.90%.
Insider Activity at Bank of N.T. Butterfield & Son
In other Bank of N.T. Butterfield & Son news, Director John R. Wright sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $59.50, for a total transaction of $297,500.00. Following the completion of the transaction, the director directly owned 5,102 shares of the company’s stock, valued at approximately $303,569. This trade represents a 49.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael McWatt sold 9,000 shares of the business’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $58.41, for a total value of $525,690.00. Following the completion of the transaction, the director directly owned 13,544 shares of the company’s stock, valued at approximately $791,105.04. This trade represents a 39.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 233,037 shares of company stock valued at $14,316,919 over the last 90 days. Insiders own 1.19% of the company’s stock.
Institutional Trading of Bank of N.T. Butterfield & Son
Several institutional investors have recently bought and sold shares of NTB. Globeflex Capital L P purchased a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth about $8,226,000. Lazard Asset Management LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 130.6% in the 1st quarter. Lazard Asset Management LLC now owns 167,051 shares of the bank’s stock valued at $8,767,000 after buying an additional 94,596 shares during the period. Sei Investments Co. raised its holdings in Bank of N.T. Butterfield & Son by 73.9% in the 1st quarter. Sei Investments Co. now owns 97,322 shares of the bank’s stock valued at $5,106,000 after buying an additional 41,349 shares during the period. Dimensional Fund Advisors LP raised its position in Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after purchasing an additional 33,493 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Bank of N.T. Butterfield & Son by 182.9% during the first quarter. Renaissance Technologies LLC now owns 38,000 shares of the bank’s stock worth $1,994,000 after purchasing an additional 24,566 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.
Bank of N.T. Butterfield & Son Company Profile
The Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a full-service bank headquartered in Hamilton, Bermuda. Founded in 1858, the company provides banking, wealth management and fiduciary services to individuals, businesses, institutions and international clients.
Butterfield’s banking activities include personal and commercial deposit accounts, residential and commercial lending, credit and debit cards, cash management, foreign exchange and other financial services.
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