Tara Hidalgo Sells 18,587 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) insider Tara Hidalgo sold 18,587 shares of Bank of N.T. Butterfield & Son stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $61.27, for a total transaction of $1,138,825.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded down $0.43 during trading hours on Friday, hitting $61.30. The stock had a trading volume of 101,583 shares, compared to its average volume of 177,405. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $62.46. The firm has a market cap of $2.57 billion, a P/E ratio of 10.76 and a beta of 0.51. The company’s fifty day simple moving average is $59.16 and its 200 day simple moving average is $55.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its 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 return on equity of 22.43% and a net margin of 29.34%.The business had revenue of $159.00 million during the quarter. 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 Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s payout ratio is 35.15%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after acquiring an additional 215,397 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $9,579,000. LSV Asset Management boosted its stake in shares of Bank of N.T. Butterfield & Son by 26.5% in the 4th 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 last quarter. Assenagon Asset Management S.A. grew its holdings in Bank of N.T. Butterfield & Son by 648.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock worth $10,168,000 after acquiring an additional 167,871 shares during the period. Finally, UBS Group AG lifted its stake in shares of 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 period. 62.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NTB has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Zacks Research lowered shares of 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 raised their price objective 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 analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

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.