Bank of N.T. Butterfield & Son (NYSE:NTB) Insider Tara Hidalgo Sells 18,587 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) insider Tara Hidalgo sold 18,587 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total transaction of $1,138,825.49. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock opened at $61.28 on Friday. The firm has a 50 day moving average price of $59.26 and a 200-day moving average price of $55.22. Bank of N.T. Butterfield & Son Limited has a 52-week low of $40.59 and a 52-week high of $62.46. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 10.77 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. The firm had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. UBS Group AG lifted its stake in Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after acquiring an additional 155,784 shares during the period. 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. Tudor Investment Corp ET AL lifted its position in Bank of N.T. Butterfield & Son by 16.7% during the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock valued at $5,787,000 after purchasing an additional 19,327 shares during the period. Ritholtz Wealth Management purchased a new stake in Bank of N.T. Butterfield & Son in the first quarter worth approximately $1,382,000. Finally, Globeflex Capital L P boosted its holdings in Bank of N.T. Butterfield & Son by 24.1% in the fourth quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock worth $6,496,000 after purchasing an additional 25,349 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

NTB has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.