Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Get Free Report) Director Michael Mcwatt sold 12,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $61.78, for a total value of $741,360.00. Following the completion of the transaction, the director owned 22,544 shares in the company, valued at approximately $1,392,768.32. This trade represents a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Bank of N.T. Butterfield & Son Price Performance
Bank of N.T. Butterfield & Son stock traded down $0.20 during mid-day trading on Wednesday, reaching $61.91. 179,414 shares of the stock traded hands, compared to its average volume of 178,770. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $62.54. The business’s 50-day moving average is $59.49 and its 200-day moving average is $55.43. The stock has a market capitalization of $2.60 billion, a PE ratio of 10.88 and a beta of 0.51.
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The business had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. Equities analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
Analysts Set New Price Targets
Several equities analysts recently weighed in on NTB shares. Keefe, Bruyette & Woods lifted their target price on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday. Wells Fargo & Company upped 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 report on Monday, June 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.50.
Read Our Latest Research Report on NTB
Institutional Trading of Bank of N.T. Butterfield & Son
Hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised 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 valued at $34,000 after purchasing an additional 523 shares during the period. PNC Financial Services Group Inc. boosted 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 worth $46,000 after buying an additional 1,045 shares during the period. CIBC Private Wealth Group LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth $56,000. Los Angeles Capital Management LLC bought a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth $114,000. 62.73% of the stock is owned by hedge funds and other institutional investors.
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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