Bank of N.T. Butterfield & Son Limited (The) Plans Quarterly Dividend of $0.50 (NYSE:NTB)

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Wednesday, August 12th will be given a dividend of 0.50 per share by the bank on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, August 12th.

Bank of N.T. Butterfield & Son has increased its dividend payment by an average of 0.0%annually over the last three years. Bank of N.T. Butterfield & Son has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $7.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.6%.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $60.58 on Tuesday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 10.48 and a beta of 0.51. Bank of N.T. Butterfield & Son has a 1 year low of $40.59 and a 1 year high of $62.46. The business’s 50 day simple moving average is $58.86 and its 200-day simple moving average is $54.95.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The firm had revenue of $159.00 million during the quarter. On average, sell-side analysts expect that Bank of N.T. Butterfield & Son will post 6.1 earnings per share for the current year.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In related news, CEO Michael W. Collins sold 20,621 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total value of $1,211,896.17. Following the completion of the sale, the chief executive officer directly owned 60,622 shares in the company, valued at $3,562,754.94. This trade represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark T. Lynch acquired 10,000 shares of the company’s stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $56.49 per share, with a total value of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 60,621 shares of company stock worth $3,557,496 in the last 90 days. 1.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Institutional investors have recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 3.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 29,294 shares of the bank’s stock valued at $1,743,000 after buying an additional 1,082 shares during the period. Bank of America Corp DE raised its holdings in shares of Bank of N.T. Butterfield & Son by 9.6% in the first quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock worth $8,368,000 after buying an additional 14,008 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 456 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 5.0% during the 1st quarter. Empowered Funds LLC now owns 180,408 shares of the bank’s stock worth $9,468,000 after acquiring an additional 8,573 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 6.2% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank’s stock worth $720,000 after acquiring an additional 802 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

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.