Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $4,723,500.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $62.98, for a total transaction of $4,723,500.00. Following the completion of the transaction, the chief executive officer owned 132,037 shares of the company’s stock, valued at $8,315,690.26. The trade was a 36.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Bank of N.T. Butterfield & Son Trading Down 0.1%

Shares of Bank of N.T. Butterfield & Son stock opened at $58.59 on Friday. The company has a 50 day moving average of $60.64 and a 200-day moving average of $56.40. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $64.17. The company has a market cap of $2.46 billion, a PE ratio of 10.30 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The business had revenue of $159.00 million for the quarter. Research analysts forecast 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 35.15%.

Analyst Ratings Changes

A number of research firms have recently commented on NTB. Keefe, Bruyette & Woods boosted 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. Wells Fargo & Company raised their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

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

A number of hedge funds have recently added to or reduced their stakes in NTB. Seelaus Asset Management LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 4.1% during the fourth quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after buying an additional 250 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock valued at $264,000 after acquiring an additional 328 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 33.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock valued at $95,000 after acquiring an additional 456 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after acquiring an additional 457 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock valued at $380,000 after acquiring an additional 492 shares in the last quarter. Institutional investors and hedge funds 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.