Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 20,621 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 60,622 shares in the company, valued at approximately $3,562,754.94. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bank of N.T. Butterfield & Son Stock Up 1.1%

NTB traded up $0.67 during trading on Tuesday, hitting $59.13. 243,054 shares of the stock were exchanged, compared to its average volume of 173,889. The firm has a market capitalization of $2.48 billion, a P/E ratio of 10.23 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $59.36. The stock has a fifty day moving average price of $56.21 and a two-hundred day moving average price of $52.78.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The company had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. Analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 3.4%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company boosted their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Finally, Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bell Investment Advisors Inc boosted its holdings in Bank of N.T. Butterfield & Son by 284.4% in the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after purchasing an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after purchasing an additional 523 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Bank of N.T. Butterfield & Son by 234.1% in the third quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock valued at $42,000 after purchasing an additional 672 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 3,371.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,045 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $56,000. 62.73% of the stock is owned by institutional investors and hedge funds.

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.