Bank of N.T. Butterfield & Son (NYSE:NTB) Director Jody Terence Feldman Sells 7,500 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Jody Terence Feldman sold 7,500 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $59.94, for a total transaction of $449,550.00. Following the completion of the sale, the director directly owned 5,713 shares of the company’s stock, valued at $342,437.22. The trade was a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bank of N.T. Butterfield & Son Stock Down 0.7%

Shares of Bank of N.T. Butterfield & Son stock opened at $61.28 on Friday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $62.46. The business’s fifty day moving average is $59.26 and its two-hundred day moving average is $55.22. The firm has a market cap of $2.57 billion, a PE ratio of 10.77 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 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 research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 35.15%.

Wall Street Analysts Forecast Growth

NTB has been the subject of a number of research reports. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Wells Fargo & Company raised their target price 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 research note on Monday, June 8th. Finally, Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

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

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.