Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) Director Sells $449,550.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Jody Terence Feldman sold 7,500 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $59.94, for a total value of $449,550.00. Following the completion of the transaction, the director owned 5,713 shares of the company’s stock, valued at $342,437.22. This trade represents a 56.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Bank of N.T. Butterfield & Son Stock Down 0.0%

Shares of Bank of N.T. Butterfield & Son stock opened at $61.28 on Monday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $62.46. The firm has a market cap of $2.57 billion, a PE ratio of 10.77 and a beta of 0.51. The business’s fifty day moving average is $59.26 and its two-hundred day moving average is $55.26.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The business had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. Equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 35.15%.

Analyst Ratings Changes

NTB has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective 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 research note on Monday, June 8th. Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG grew its position in 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 valued at $9,803,000 after acquiring an additional 155,784 shares in the last quarter. LSV Asset Management lifted its position in shares of Bank of N.T. Butterfield & Son by 26.5% during the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after purchasing an additional 172,666 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Bank of N.T. Butterfield & Son by 16.7% during the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after purchasing an additional 19,327 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of Bank of N.T. Butterfield & Son in the first quarter valued at $1,382,000. Finally, Globeflex Capital L P boosted its stake in shares of Bank of N.T. Butterfield & Son by 24.1% in the fourth quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock valued at $6,496,000 after purchasing an additional 25,349 shares during the period. Institutional investors and hedge funds 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.