Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Announces Quarterly Dividend of $0.50

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Monday, July 27th. Stockholders of record on Wednesday, August 12th will be given a dividend of 0.50 per share by the bank on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th.

Bank of N.T. Butterfield & Son has raised its dividend by an average of 0.0%per year over the last three years. Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $7.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.6%.

Bank of N.T. Butterfield & Son Stock Down 0.7%

NTB stock opened at $60.58 on Tuesday. The business’s 50-day moving average price is $58.86 and its 200-day moving average price is $54.95. The stock has a market cap of $2.54 billion, a P/E ratio of 10.48 and a beta of 0.51. Bank of N.T. Butterfield & Son has a twelve month low of $40.59 and a twelve month high of $62.46.

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 30.22% and a return on equity of 21.92%. The company had revenue of $159.00 million during the quarter. On average, equities research analysts expect that Bank of N.T. Butterfield & Son will post 6.1 earnings per share for the current fiscal year.

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

In related news, CEO Michael W. Collins sold 20,621 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the completion of the transaction, the chief executive officer owned 60,622 shares in the company, valued at approximately $3,562,754.94. This represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark T. Lynch bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $56.49 per share, with a total value of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This represents a 4.45% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 60,621 shares of company stock worth $3,557,496. Company insiders own 1.19% of the company’s stock.

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

A number of institutional investors and hedge funds have recently bought and sold shares of NTB. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after purchasing an additional 523 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 3,371.0% during the third 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 bought a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter worth about $56,000. Los Angeles Capital Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $114,000. 62.73% of the stock is currently owned by institutional investors.

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.