Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells $297,500.00 in Stock

Key Points

• Director John Wright sold 5,000 NTB shares at an average price of $59.50, worth $297,500, reducing his direct holdings by 49.5% to 5,102 shares.
• NTB recently reported quarterly EPS of $1.58 on $159 million in revenue and declared a quarterly dividend of $0.50 per share, representing a 3.2% annualized yield.
• The stock traded near its 52-week high at $61.91, while analysts maintained a generally positive outlook with a consensus “Moderate Buy” rating and a $63.50 price target.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) Director John Wright sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the completion of the sale, the director directly owned 5,102 shares of the company's stock, valued at approximately $303,569. This trade represents a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock traded down $0.20 during trading on Wednesday, hitting $61.91. 179,414 shares of the company traded hands, compared to its average volume of 178,770. The company has a 50-day moving average of $59.49 and a 200-day moving average of $55.43. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $62.54. The firm has a market capitalization of $2.60 billion, a PE ratio of 10.88 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. The business 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%. Sell-side analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 35.15%.

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

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank's stock worth $34,000 after purchasing an additional 523 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank's stock valued at $46,000 after purchasing an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at about $56,000. Los Angeles Capital Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at about $67,000. Finally, Kemnay Advisory Services Inc. bought a new position in Bank of N.T. Butterfield & Son in the fourth quarter worth about $114,000. Institutional investors own 62.73% of the company's stock.

Analyst Ratings Changes

NTB has been the topic of a number of recent analyst reports. 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. Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, June 8th. Weiss Ratings reissued a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their price target 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. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.50.

About Bank of N.T. Butterfield & Son

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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