Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $60.35 and last traded at $59.8680, with a volume of 855575 shares. The stock had previously closed at $60.34.
Analysts Set New Price Targets
Several brokerages have issued reports on NTB. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average price target of $56.33.
View Our Latest Stock Analysis on NTB
Bank of N.T. Butterfield & Son Stock Down 0.7%
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. The firm had revenue of $155.93 million for the quarter. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 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 was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 34.60%.
Insider Buying and Selling
In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $56.49 per share, with a total value of $564,900.00. Following the completion of the acquisition, the director owned 234,794 shares in the company, valued at approximately $13,263,513.06. This represents a 4.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael W. Collins sold 20,621 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total value of $1,211,896.17. Following the transaction, the chief executive officer owned 60,622 shares of the company’s stock, valued at approximately $3,562,754.94. This represents a 25.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 60,621 shares of company stock worth $3,557,496. Corporate insiders own 1.19% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of NTB. UBS Group AG grew its position in Bank of N.T. Butterfield & Son by 380.1% in the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after buying an additional 155,784 shares in the last quarter. LSV Asset Management increased its stake in shares of Bank of N.T. Butterfield & Son by 26.5% during the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after acquiring an additional 172,666 shares during the period. Quantbot Technologies LP lifted its holdings in Bank of N.T. Butterfield & Son by 97.5% in the 3rd quarter. Quantbot Technologies LP now owns 24,895 shares of the bank’s stock valued at $1,068,000 after acquiring an additional 12,290 shares during the last quarter. Tudor Investment Corp ET AL grew its position in Bank of N.T. Butterfield & Son by 16.7% in the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after buying an additional 19,327 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 10.2% in the third quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock valued at $65,140,000 after buying an additional 140,041 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.
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.
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