Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Passes Below 50 Day Moving Average - What's Next?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $60.68 and traded as low as $59.21. Bank of N.T. Butterfield & Son shares last traded at $59.6460, with a volume of 172,357 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTB shares. Weiss Ratings reiterated a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Keefe, Bruyette & Woods upped their price objective on 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, August 3rd. Finally, Wells Fargo & Company boosted their target price on 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. One research 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.com, Bank of N.T. Butterfield & Son has a consensus rating of "Moderate Buy" and an average price target of $63.50.

Bank of N.T. Butterfield & Son Trading Up 1.2%

The stock has a 50-day simple moving average of $60.68 and a 200 day simple moving average of $56.76. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 10.48 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The business had revenue of $159.00 million during 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, research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 12th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 35.15%.

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

In related news, CEO Michael W. Collins sold 61,178 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $59.67, for a total transaction of $3,650,491.26. Following the completion of the sale, the chief executive officer directly owned 132,037 shares in the company, valued at approximately $7,878,647.79. The trade was a 31.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tara Hidalgo sold 18,587 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $61.27, for a total transaction of $1,138,825.49. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 356,429 shares of company stock valued at $21,711,506. Insiders own 1.19% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NTB. Millennium Management LLC increased its stake in Bank of N.T. Butterfield & Son by 119.4% during the 3rd quarter. Millennium Management LLC now owns 395,731 shares of the bank's stock worth $16,985,000 after buying an additional 215,397 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $9,579,000. LSV Asset Management grew its position in Bank of N.T. Butterfield & Son by 26.5% in the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank's stock valued at $41,048,000 after buying an additional 172,666 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Bank of N.T. Butterfield & Son by 648.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank's stock worth $10,168,000 after buying an additional 167,871 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Bank of N.T. Butterfield & Son by 380.1% in the 4th quarter. UBS Group AG now owns 196,771 shares of the bank's stock valued at $9,803,000 after purchasing an additional 155,784 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

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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