Michael Mcwatt Sells 12,000 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 12,000 shares of the company’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 transaction, the director directly owned 22,544 shares in the company, valued at $1,392,768.32. This represents a 34.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $61.98 on Friday. The company has a market cap of $2.60 billion, a P/E ratio of 10.89 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a one year low of $40.59 and a one year high of $62.54. The business has a fifty day moving average of $59.70 and a two-hundred day moving average of $55.59.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The business had revenue of $159.00 million during the quarter. Sell-side analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Institutional Trading of Bank of N.T. Butterfield & Son

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of 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 last quarter. LSV Asset Management lifted its holdings in shares of Bank of N.T. Butterfield & Son by 26.5% during the 4th 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 boosted its position in shares of 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 acquiring an additional 19,327 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter worth approximately $1,382,000. Finally, Globeflex Capital L P grew 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 valued at $6,496,000 after purchasing an additional 25,349 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTB has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods raised their price target 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. Finally, Wells Fargo & Company lifted 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 note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

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.