Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-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 changing hands.

Wall Street Analyst Weigh In

NTB has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price 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 lifted their price target on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 30th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Bank of N.T. Butterfield & Son Stock Performance

The stock has a market cap of $2.35 billion, a PE ratio of 9.79 and a beta of 0.55. The company’s 50-day moving average price is $58.92 and its 200 day moving average price is $56.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, October 27th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The firm had revenue of $162.24 million for the quarter, compared to analysts’ expectations of $160.90 million. Bank of N.T. Butterfield & Son had a return on equity of 22.45% and a net margin of 29.21%. During the same period in the prior year, the firm posted $1.51 earnings per share. As a group, equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.30 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Tuesday, November 10th will be given a $0.50 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. Bank of N.T. Butterfield & Son’s payout ratio is currently 34.90%.

Insider Activity

In other news, CEO Michael Collins sold 75,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $62.98, for a total value of $4,723,500.00. Following the transaction, the chief executive officer owned 132,037 shares of the company’s stock, valued at $8,315,690.26. This represents a 36.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Wright sold 5,000 shares of the stock in a transaction 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 transaction, the director owned 5,102 shares of the company’s stock, valued at approximately $303,569. This represents a 49.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,037 shares of company stock valued at $14,316,919 in the last quarter. Insiders own 1.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NTB. Dimensional Fund Advisors LP raised its position in Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after purchasing an additional 33,493 shares during the period. Empowered Funds LLC lifted its stake in Bank of N.T. Butterfield & Son by 5.0% during the first quarter. Empowered Funds LLC now owns 180,408 shares of the bank’s stock worth $9,468,000 after purchasing an additional 8,573 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Bank of N.T. Butterfield & Son by 130.6% during the first quarter. Lazard Asset Management LLC now owns 167,051 shares of the bank’s stock worth $8,767,000 after purchasing an additional 94,596 shares in the last quarter. Bank of America Corp DE lifted its stake in Bank of N.T. Butterfield & Son by 9.6% during the first quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock worth $8,368,000 after purchasing an additional 14,008 shares in the last quarter. Finally, Globeflex Capital L P purchased a new position in shares of Bank of N.T. Butterfield & Son during the second quarter worth $8,226,000. Institutional investors and hedge funds 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.