Bank of N.T. Butterfield & Son (NYSE:NTB) Insider Andrew Ronald Burns Sells 18,566 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) insider Andrew Ronald Burns sold 18,566 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,137,538.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock opened at $61.28 on Friday. The business has a 50 day simple moving average of $59.26 and a 200-day simple moving average of $55.22. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $62.46. The stock has a market capitalization of $2.57 billion, a PE ratio of 10.77 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share 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 anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid 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 is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s payout ratio is 35.15%.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in 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 worth $34,000 after purchasing an additional 523 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 buying an additional 1,045 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth $56,000. Los Angeles Capital Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $114,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NTB shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Wells Fargo & Company increased their target price 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. Finally, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus target price 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.