Michael Mcwatt Sells 9,000 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 9,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $58.41, for a total value of $525,690.00. Following the completion of the transaction, the director directly owned 13,544 shares in the company, valued at $791,105.04. This represents a 39.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Michael Mcwatt also recently made the following trade(s):

• On Wednesday, August 5th, Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son stock. The stock was sold at an average price of $61.78, for a total value of $741,360.00.

Bank of N.T. Butterfield & Son Stock Up 0.1%

Shares of NYSE NTB opened at $59.05 on Friday. The business’s 50 day moving average price is $60.65 and its 200 day moving average price is $56.59. The firm has a market cap of $2.48 billion, a P/E ratio of 10.38 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly 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. As a group, research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend 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 35.15%.

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

Several large investors have recently made changes to their positions in NTB. UBS Group AG grew its position 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 valued at $9,803,000 after buying an additional 155,784 shares during the period. LSV Asset Management raised its position in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after acquiring an additional 172,666 shares during the period. Strategic Global Advisors LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 52.7% during the 4th quarter. Strategic Global Advisors LLC now owns 232,513 shares of the bank’s stock worth $11,584,000 after acquiring an additional 80,244 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter worth about $1,382,000. Finally, Globeflex Capital L P grew its position in shares of Bank of N.T. Butterfield & Son by 24.1% during the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock valued at $6,496,000 after acquiring an additional 25,349 shares during the period. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTB has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Weiss Ratings reiterated 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 objective 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, August 3rd. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

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.