Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $56.66 and traded as low as $55.92. Bank of N.T. Butterfield & Son shares last traded at $56.11, with a volume of 175,710 shares.

Wall Street Analyst Weigh In

NTB has been the topic of a number of recent research reports. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, September 29th. Keefe, Bruyette & Woods lifted their target price 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 research note on Monday, August 3rd. Finally, Wells Fargo & Company increased their target price on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.50.

Bank of N.T. Butterfield & Son Trading Down 2.1%

The company’s 50-day moving average price is $58.92 and its two-hundred day moving average price is $56.66. The company has a market cap of $2.35 billion, a P/E ratio of 9.79 and a beta of 0.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, October 27th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. Bank of N.T. Butterfield & Son had a net margin of 29.21% and a return on equity of 22.45%. The firm had revenue of $162.24 million for the quarter, compared to the consensus estimate of $160.90 million. During the same period last year, the firm posted $1.51 EPS. As a group, analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.30 earnings per share 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, November 25th. Shareholders of record on Tuesday, November 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 34.90%.

Insider Transactions at Bank of N.T. Butterfield & Son

In other news, CEO Michael W. Collins sold 61,178 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $59.67, for a total value of $3,650,491.26. Following the completion of the sale, the chief executive officer directly owned 132,037 shares of the company’s stock, valued at $7,878,647.79. This represents a 31.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Wright sold 5,000 shares of Bank of N.T. Butterfield & Son stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the sale, the director directly owned 5,102 shares of the company’s stock, valued at approximately $303,569. The trade was a 49.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 233,037 shares of company stock valued at $14,316,919 over the last three months. Company insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Bank of N.T. Butterfield & Son during the 2nd quarter worth about $1,374,000. Y Intercept Hong Kong Ltd boosted its stake in Bank of N.T. Butterfield & Son by 88.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 35,446 shares of the bank’s stock worth $1,860,000 after buying an additional 16,664 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Bank of N.T. Butterfield & Son by 182.9% in the 1st quarter. Renaissance Technologies LLC now owns 38,000 shares of the bank’s stock valued at $1,994,000 after buying an additional 24,566 shares during the period. Globeflex Capital L P bought a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter valued at $8,226,000. Finally, Lazard Asset Management LLC increased its holdings in Bank of N.T. Butterfield & Son by 130.6% in the 1st quarter. Lazard Asset Management LLC now owns 167,051 shares of the bank’s stock valued at $8,767,000 after buying an additional 94,596 shares during the period. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a full-service bank headquartered in Hamilton, Bermuda. Founded in 1858, the company provides banking, wealth management and fiduciary services to individuals, businesses, institutions and international clients.

Butterfield’s banking activities include personal and commercial deposit accounts, residential and commercial lending, credit and debit cards, cash management, foreign exchange and other financial services.