Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells $525,690.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 9,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $58.41, for a total transaction of $525,690.00. Following the completion of the sale, the director owned 13,544 shares in the company, valued at approximately $791,105.04. This trade represents a 39.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Michael Mcwatt also recently made the following trade(s):

• On Wednesday, August 5th, Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son stock. The shares were sold at an average price of $61.78, for a total transaction of $741,360.00.

Bank of N.T. Butterfield & Son Stock Up 0.6%

Shares of NTB opened at $59.51 on Friday. The stock has a market cap of $2.49 billion, a P/E ratio of 10.46 and a beta of 0.51. The business’s 50 day moving average price is $60.66 and its 200-day moving average price is $56.61. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data 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 business had revenue of $159.00 million during the quarter. On average, equities 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is 35.15%.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Several large investors have recently bought and sold shares of NTB. Dimensional Fund Advisors LP raised its position in Bank of N.T. Butterfield & Son by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock worth $83,730,000 after buying an additional 33,493 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock valued at $51,143,000 after acquiring an additional 60,796 shares during the last quarter. Nuveen LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 1.2% during the 4th quarter. Nuveen LLC now owns 906,502 shares of the bank’s stock valued at $45,162,000 after acquiring an additional 10,852 shares during the last quarter. LSV Asset Management grew its stake in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after acquiring an additional 172,666 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Bank of N.T. Butterfield & Son by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 704,254 shares of the bank’s stock worth $35,086,000 after acquiring an additional 10,967 shares during the period. 62.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTB. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and an average target price of $63.50.

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.