Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Shareholders Set to Receive $0.50 Quarterly Dividend

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.50 per share by the bank on Wednesday, November 25th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, November 10th.

Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of N.T. Butterfield & Son to earn $7.15 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.0%.

Bank of N.T. Butterfield & Son Trading Down 2.3%

NYSE:NTB traded down $1.40 during mid-day trading on Wednesday, hitting $58.75. The stock had a trading volume of 52,837 shares, compared to its average volume of 173,135. The company has a 50 day simple moving average of $59.08 and a 200-day simple moving average of $56.56. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 10.33 and a beta of 0.55. Bank of N.T. Butterfield & Son has a 52 week low of $43.33 and a 52 week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, October 27th. The bank reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The company had revenue of $162.24 million for the quarter, compared to the consensus estimate of $160.90 million. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. During the same period in the previous year, the firm earned $1.51 EPS. As a group, equities research analysts anticipate that Bank of N.T. Butterfield & Son will post 6.25 earnings per share for the current year.

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

In other news, insider Andrew Burns sold 18,566 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,137,538.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard Saunders sold 18,118 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $61.33, for a total transaction of $1,111,176.94. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 288,308 shares of company stock valued at $17,704,460. 1.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 41.3% in the third quarter. Sterling Capital Management LLC now owns 920 shares of the bank’s stock worth $53,000 after buying an additional 269 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 33.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock valued at $95,000 after buying an additional 456 shares during the last quarter. Allworth Financial LP increased its stake in Bank of N.T. Butterfield & Son by 72.9% in the second quarter. Allworth Financial LP now owns 1,345 shares of the bank’s stock valued at $80,000 after purchasing an additional 567 shares during the period. Infrastructure Capital Advisors LLC increased its position in Bank of N.T. Butterfield & Son by 6.2% in the 1st quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank’s stock valued at $720,000 after acquiring an additional 802 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its position in Bank of N.T. Butterfield & Son by 3.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 29,294 shares of the bank’s stock valued at $1,743,000 after acquiring an additional 1,082 shares during the period. Institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

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.