Key Points
- Director Michael Mcwatt sold 9,000 NTB shares at an average price of $58.41, generating $525,690 and reducing his ownership by 39.92% to 13,544 shares. He had also sold 12,000 shares earlier in August.
- Bank of N.T. Butterfield & Son shares opened at $58.71 and were up 0.6%, while the bank reported quarterly EPS of $1.58 and revenue of $159 million.
- The company pays a quarterly dividend of $0.50 per share, equal to a $2.00 annualized dividend and a 3.4% yield. Analysts maintain a consensus “Moderate Buy” rating with a $63.50 price target.
Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) Director Michael Mcwatt sold 9,000 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $58.41, for a total value of $525,690.00. Following the sale, the director owned 13,544 shares of the company's stock, valued at $791,105.04. This represents a 39.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Michael Mcwatt also recently made the following trade(s):
- On Wednesday, August 5th, Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son stock. The stock was sold at an average price of $61.78, for a total transaction of $741,360.00.
Bank of N.T. Butterfield & Son Trading Up 0.6%
Shares of NYSE NTB opened at $58.71 on Thursday. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $64.17. The company has a market cap of $2.46 billion, a P/E ratio of 10.32 and a beta of 0.51. The stock has a fifty day moving average price of $60.64 and a 200 day moving average price of $56.55.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its earnings results on Tuesday, June 30th. The bank reported $1.58 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%. On average, sell-side 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 35.15%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in Bank of N.T. Butterfield & Son by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank's stock valued at $83,730,000 after purchasing an additional 33,493 shares in the last quarter. Invesco Ltd. raised its position in shares of Bank of N.T. Butterfield & Son by 6.3% in the 4th quarter. Invesco Ltd. now owns 1,026,549 shares of the bank's stock valued at $51,143,000 after purchasing an additional 60,796 shares in the last quarter. Nuveen LLC raised its position in shares of Bank of N.T. Butterfield & Son by 1.2% in the 4th quarter. Nuveen LLC now owns 906,502 shares of the bank's stock valued at $45,162,000 after purchasing an additional 10,852 shares in the last quarter. LSV Asset Management boosted its stake in shares of Bank of N.T. Butterfield & Son by 26.5% during the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank's stock valued at $41,048,000 after buying an additional 172,666 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Bank of N.T. Butterfield & Son by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 704,254 shares of the bank's stock valued at $35,086,000 after buying an additional 10,967 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.
Wall Street Analyst Weigh In
NTB has been the topic of a number of recent research reports. Weiss Ratings reissued a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods raised their price target on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a "market perform" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted 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 note on Monday, June 8th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.50.
Get Our Latest Report on Bank of N.T. Butterfield & Son
Bank of N.T. Butterfield & Son Company Profile
(
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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