Bank of N.T. Butterfield & Son (NYSE:NTB) Director Michael Mcwatt Sells 12,000 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $61.78, for a total value of $741,360.00. Following the completion of the sale, the director owned 22,544 shares of the company’s stock, valued at approximately $1,392,768.32. The trade was a 34.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bank of N.T. Butterfield & Son Trading Down 0.3%

Shares of NYSE:NTB opened at $61.91 on Thursday. The stock has a 50 day moving average of $59.60 and a 200 day moving average of $55.51. The company has a market cap of $2.60 billion, a PE ratio of 10.88 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $62.54.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The company had revenue of $159.00 million during the quarter. Equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on NTB. Keefe, Bruyette & Woods lifted their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday. Wells Fargo & Company increased 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 note on Monday, June 8th. 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, Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. 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, the company has an average rating of “Moderate Buy” and an average price target of $63.50.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Several hedge funds have recently modified their holdings of NTB. Redhawk Wealth Advisors Inc. grew its stake in Bank of N.T. Butterfield & Son by 3.8% during the second 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 in the last quarter. Bank of America Corp DE lifted its stake in Bank of N.T. Butterfield & Son by 9.6% in the 1st quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock worth $8,368,000 after purchasing an additional 14,008 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 33.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock valued at $95,000 after purchasing an additional 456 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 5.0% during the 1st quarter. Empowered Funds LLC now owns 180,408 shares of the bank’s stock valued at $9,468,000 after purchasing an additional 8,573 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC grew its position in shares of Bank of N.T. Butterfield & Son by 6.2% during the first quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank’s stock valued at $720,000 after purchasing an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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.