Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells $297,500.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director John Wright sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $59.50, for a total transaction of $297,500.00. Following the transaction, the director directly owned 5,102 shares in the company, valued at approximately $303,569. The trade was a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

NTB opened at $62.35 on Friday. The company has a fifty day simple moving average of $59.82 and a 200 day simple moving average of $55.64. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 10.96 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $62.54.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released 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 firm had revenue of $159.00 million for the quarter. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s payout ratio is presently 35.15%.

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

A number of hedge funds have recently bought and sold shares of the company. UBS Group AG lifted its holdings 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 worth $9,803,000 after buying an additional 155,784 shares during the last quarter. LSV Asset Management raised its position 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 valued at $41,048,000 after acquiring an additional 172,666 shares in the last quarter. Tudor Investment Corp ET AL lifted its stake 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 worth $5,787,000 after purchasing an additional 19,327 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Bank of N.T. Butterfield & Son in the first quarter worth $1,382,000. Finally, Globeflex Capital L P increased its stake in Bank of N.T. Butterfield & Son by 24.1% during 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 last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NTB. Keefe, Bruyette & Woods increased 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 report on Monday, August 3rd. Wells Fargo & Company raised 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 note on Monday, June 8th. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Finally, 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. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.