Bank of N.T. Butterfield & Son (NYSE:NTB) Director Michael Mcwatt Sells 9,000 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Michael Mcwatt sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $58.41, for a total transaction of $525,690.00. Following the transaction, the director directly owned 13,544 shares in the company, valued at $791,105.04. The trade was a 39.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 shares were sold at an average price of $61.78, for a total transaction of $741,360.00.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE:NTB opened at $58.71 on Thursday. Bank of N.T. Butterfield & Son Limited has a one year low of $40.59 and a one year high of $64.17. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 10.32 and a beta of 0.51. The company has a 50-day simple moving average of $60.64 and a 200-day simple moving average of $56.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The firm 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%. As a group, research 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 business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 35.15%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NTB. UBS Group AG increased its stake in Bank of N.T. Butterfield & Son by 380.1% in the fourth 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 last quarter. LSV Asset Management boosted its stake in 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 worth $41,048,000 after buying an additional 172,666 shares during the last quarter. Strategic Global Advisors LLC boosted its stake in Bank of N.T. Butterfield & Son by 52.7% in the 4th quarter. Strategic Global Advisors LLC now owns 232,513 shares of the bank’s stock worth $11,584,000 after buying an additional 80,244 shares during the last quarter. Ritholtz Wealth Management purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter valued at about $1,382,000. Finally, Globeflex Capital L P grew its holdings in Bank of N.T. Butterfield & Son by 24.1% in the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock valued at $6,496,000 after buying an additional 25,349 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTB. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Keefe, Bruyette & Woods increased their price target on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.50.

Bank of N.T. Butterfield & Son Company Profile

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.