Key Points
- Director Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son at an average price of $61.78, generating $741,360. The sale reduced his direct holdings by 34.74% to 22,544 shares.
- Butterfield reported quarterly earnings of $1.58 per share on $159 million in revenue, with a 29.34% net margin and 22.43% return on equity. The bank also declared a quarterly dividend of $0.50 per share, representing a 3.2% yield.
- Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and a $63.50 price target. Institutional investors own approximately 62.73% of the company.
Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) Director John Wright sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $59.50, for a total value of $297,500.00. Following the transaction, the director owned 5,102 shares of the company's stock, valued at $303,569. This trade represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Bank of N.T. Butterfield & Son Price Performance
Shares of NYSE:NTB opened at $61.91 on Thursday. The firm has a market capitalization of $2.60 billion, a PE ratio of 10.88 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $62.54. The firm's 50-day moving average is $59.60 and its two-hundred day moving average is $55.51.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. The business had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. Analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.
Bank of N.T. Butterfield & Son Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Bank of N.T. Butterfield & Son's dividend payout ratio is 35.15%.
Analyst Ratings Changes
NTB has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a "market perform" rating in a research note on Monday. Zacks Research cut Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Wells Fargo & Company lifted their target price on 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. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.50.
Read Our Latest Analysis on NTB
Institutional Trading of Bank of N.T. Butterfield & Son
A number of large investors have recently made changes to their positions in NTB. Seelaus Asset Management LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 4.1% in the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank's stock valued at $313,000 after acquiring an additional 250 shares during the period. Raymond James Financial Inc. boosted its stake in Bank of N.T. Butterfield & Son by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank's stock worth $264,000 after purchasing an additional 328 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Bank of N.T. Butterfield & Son by 33.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank's stock worth $95,000 after purchasing an additional 456 shares during the period. Cerity Partners LLC grew its position in Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank's stock worth $654,000 after purchasing an additional 457 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Bank of N.T. Butterfield & Son by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 7,628 shares of the bank's stock worth $380,000 after purchasing an additional 492 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
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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