Bank of N.T. Butterfield & Son (NYSE:NTB) Insider Andrew Ronald Burns Sells 18,566 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) insider Andrew Ronald Burns sold 18,566 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $61.27, for a total transaction of $1,137,538.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

NYSE NTB traded down $0.43 during trading on Friday, reaching $61.30. The company’s stock had a trading volume of 101,583 shares, compared to its average volume of 177,405. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $62.46. The firm has a 50 day moving average price of $59.16 and a 200 day moving average price of $55.18. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 10.76 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results 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%. On average, equities analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS 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. Investors of record on Wednesday, August 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Analyst Ratings Changes

NTB has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price 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 restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One investment 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, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus target price of $59.50.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 204.3% in 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. increased its holdings 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 worth $46,000 after buying an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at $56,000. Los Angeles Capital Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at $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 $114,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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.