Jody Terence Feldman Sells 7,500 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Jody Terence Feldman sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $59.94, for a total value of $449,550.00. Following the completion of the sale, the director owned 5,713 shares in the company, valued at approximately $342,437.22. This represents a 56.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Bank of N.T. Butterfield & Son Price Performance

NTB traded down $0.43 during trading on Friday, reaching $61.30. 101,583 shares of the company’s stock were exchanged, compared to its average volume of 177,405. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $62.46. The company’s fifty day simple moving average is $59.16 and its 200-day simple moving average is $55.18. The stock has a market capitalization of $2.57 billion, a P/E ratio of 10.76 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data 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 net margin of 29.34% and a return on equity of 22.43%. Equities analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Bank of N.T. Butterfield & Son’s payout ratio is currently 35.15%.

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

A number of hedge funds have recently added to or reduced their stakes in NTB. EverSource Wealth Advisors LLC grew its position in Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after buying an additional 523 shares during the period. 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 worth $46,000 after acquiring an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Los Angeles Capital Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $67,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $114,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NTB shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company upped their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.50.

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.