Richard Saunders Sells 18,118 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Richard Saunders sold 18,118 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $61.33, for a total transaction of $1,111,176.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB traded down $0.45 on Friday, reaching $61.28. The company’s stock had a trading volume of 280,105 shares, compared to its average volume of 178,691. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $62.46. The firm’s 50 day moving average is $59.16 and its two-hundred day moving average is $55.18. The stock has a market cap of $2.57 billion, a PE ratio of 10.77 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data 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 for the quarter. Equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son’s payout ratio is 35.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company lifted 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 report on Monday, June 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Finally, Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

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

Large investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its position in shares of Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after buying an additional 155,784 shares during the period. LSV Asset Management lifted its stake in Bank of N.T. Butterfield & Son by 26.5% in the 4th 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 in the last quarter. Tudor Investment Corp ET AL lifted its stake in Bank of N.T. Butterfield & Son by 16.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after acquiring an additional 19,327 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Bank of N.T. Butterfield & Son during the 1st quarter worth about $1,382,000. Finally, Globeflex Capital L P grew its stake in 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 in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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.