John Wright Sells 5,000 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

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

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE NTB traded down $0.20 during mid-day trading on Wednesday, hitting $61.91. 179,414 shares of the stock traded hands, compared to its average volume of 178,770. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $62.54. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 10.88 and a beta of 0.51. The stock has a fifty day moving average price of $59.49 and a 200-day moving average price of $55.43.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. The company 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 predict that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS 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 $0.50 dividend. The ex-dividend date of this dividend 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 Investors Weigh In On Bank of N.T. Butterfield & Son

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after acquiring an additional 523 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after purchasing an additional 1,045 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth about $56,000. Los Angeles Capital Management LLC bought a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth about $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $114,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on NTB shares. Wells Fargo & Company lifted their price target on shares of 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. Keefe, Bruyette & Woods upped 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. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a 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 stock. According to MarketBeat.com, the company has a consensus 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.