Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells 18,118 Shares of Stock

Key Points

• Director Richard Saunders sold 18,118 NTB shares at an average price of $61.33, generating approximately $1.11 million in proceeds. The transaction was disclosed in an SEC filing.
• NTB shares traded near $61.28, close to their 52-week high of $62.46. The bank reported quarterly earnings of $1.58 per share on $159 million in revenue, with a 29.34% net margin.
• Butterfield declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 3.3% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $59.50.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) Director Richard Saunders sold 18,118 shares of the firm's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $61.33, for a total value of $1,111,176.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded down $0.45 during midday trading on Friday, hitting $61.28. 280,105 shares of the stock traded hands, compared to its average volume of 178,691. The business's 50 day moving average price is $59.16 and its two-hundred day moving average price is $55.18. The firm has a market capitalization of $2.57 billion, a PE ratio of 10.77 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $62.46.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. The business had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. As a group, equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 35.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NTB shares. Zacks Research lowered Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Wells Fargo & Company boosted their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Monday, June 8th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $59.50.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of institutional investors have recently made changes to their positions in the stock. UBS Group AG raised its holdings in Bank of N.T. Butterfield & Son by 380.1% during the fourth quarter. UBS Group AG now owns 196,771 shares of the bank's stock worth $9,803,000 after purchasing an additional 155,784 shares in the last quarter. LSV Asset Management boosted its stake in 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 purchasing an additional 172,666 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of Bank of N.T. Butterfield & Son by 16.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank's stock valued at $5,787,000 after purchasing an additional 19,327 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth $1,382,000. Finally, Globeflex Capital L P raised its stake in shares of Bank of N.T. Butterfield & Son by 24.1% in the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank's stock worth $6,496,000 after buying an additional 25,349 shares in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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.

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