Bank of N.T. Butterfield & Son (NYSE:NTB) Director Mark Lynch Acquires 10,000 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Director Mark Lynch acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $56.49 per share, with a total value of $564,900.00. Following the acquisition, the director directly owned 234,794 shares in the company, valued at $13,263,513.06. This represents a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $57.91 on Wednesday. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $58.06. The company has a 50-day moving average of $55.02 and a 200 day moving average of $51.91. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 10.02 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. The company had revenue of $155.93 million during the quarter. On average, equities analysts anticipate 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 34.60%.

Bank of N.T. Butterfield & Son declared that its Board of Directors has approved a share repurchase program on Monday, February 9th that allows the company to repurchase $3.00 million in shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Bank of N.T. Butterfield & Son

Institutional investors have recently modified their holdings of the company. Bell Investment Advisors Inc boosted its holdings in shares of Bank of N.T. Butterfield & Son by 284.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after buying an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after buying an additional 523 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Bank of N.T. Butterfield & Son by 234.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock valued at $42,000 after buying an additional 672 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after buying an additional 1,045 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $56,000. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTB has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 12th. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

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.