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

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

Shares of NTB traded down $0.43 during mid-day trading on Friday, hitting $61.30. The company’s stock had a trading volume of 101,583 shares, compared to its average volume of 177,405. The company’s 50-day moving average is $59.16 and its 200-day moving average is $55.18. Bank of N.T. Butterfield & Son Limited has a 52-week low of $40.59 and a 52-week high of $62.46. 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 announced 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 for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. As a group, sell-side analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Analyst Ratings Changes

Several brokerages recently issued reports on NTB. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. 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. Finally, Wells Fargo & Company boosted their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.50.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after buying an additional 523 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Los Angeles Capital Management LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $67,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at about $114,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

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.