Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) Director Jody Terence Feldman sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the director owned 5,713 shares of the company's stock, valued at approximately $342,437.22. This trade represents a 56.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Bank of N.T. Butterfield & Son Trading Down 0.7%
Shares of NYSE:NTB opened at $61.28 on Friday. The company has a fifty day simple moving average of $59.26 and a 200 day simple moving average of $55.22. The firm 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 Limited has a 12-month low of $40.59 and a 12-month high of $62.46.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly 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 29.34% and a return on equity of 22.43%. The firm had revenue of $159.00 million for the quarter. As a group, equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Bank of N.T. Butterfield & Son's payout ratio is presently 35.15%.
Analysts Set New Price Targets
Several brokerages have recently commented on NTB. Wells Fargo & Company increased their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Monday, June 8th. Zacks Research lowered Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $59.50.
Read Our Latest Analysis on NTB
Institutional Trading of Bank of N.T. Butterfield & Son
A number of large investors have recently modified their holdings of NTB. UBS Group AG lifted its position in Bank of N.T. Butterfield & Son by 380.1% in the 4th quarter. UBS Group AG now owns 196,771 shares of the bank's stock valued at $9,803,000 after purchasing an additional 155,784 shares during the last quarter. LSV Asset Management increased its stake in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank's stock valued at $41,048,000 after purchasing an additional 172,666 shares during the period. Tudor Investment Corp ET AL raised its holdings 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 valued at $5,787,000 after buying an additional 19,327 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Bank of N.T. Butterfield & Son during the first quarter valued at approximately $1,382,000. Finally, Globeflex Capital L P raised its holdings in shares of Bank of N.T. Butterfield & Son by 24.1% during the fourth quarter. Globeflex Capital L P now owns 130,399 shares of the bank's stock valued at $6,496,000 after buying an additional 25,349 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company's stock.
Bank of N.T. Butterfield & Son Company Profile
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Get Free Report)
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.
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