Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells 70,859 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 70,859 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $61.79, for a total value of $4,378,377.61. Following the sale, the chief executive officer directly owned 61,178 shares of the company’s stock, valued at $3,780,188.62. This represents a 53.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB traded down $2.38 during midday trading on Wednesday, hitting $59.13. 232,075 shares of the company traded hands, compared to its average volume of 181,241. The company’s 50-day simple moving average is $60.62 and its 200-day simple moving average is $56.28. The company has a market cap of $2.48 billion, a PE ratio of 10.39 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. On average, research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 35.15%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NTB shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average price target of $63.50.

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

A number of hedge funds have recently bought and sold shares of NTB. UBS Group AG raised its holdings in shares of Bank of N.T. Butterfield & Son by 380.1% in the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after buying an additional 155,784 shares in the last quarter. LSV Asset Management raised its stake in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after buying an additional 172,666 shares during the period. Strategic Global Advisors LLC boosted its holdings in Bank of N.T. Butterfield & Son by 52.7% during the 4th quarter. Strategic Global Advisors LLC now owns 232,513 shares of the bank’s stock valued at $11,584,000 after acquiring an additional 80,244 shares during the period. Ritholtz Wealth Management bought a new stake in Bank of N.T. Butterfield & Son during the 1st quarter valued at about $1,382,000. Finally, Globeflex Capital L P raised its stake in Bank of N.T. Butterfield & Son by 24.1% during the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock valued at $6,496,000 after purchasing an additional 25,349 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

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.