Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $1,170,600.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $58.53, for a total value of $1,170,600.00. Following the transaction, the chief executive officer directly owned 81,243 shares of the company’s stock, valued at $4,755,152.79. This represents a 19.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE NTB traded up $0.67 during trading hours on Tuesday, hitting $59.13. 243,054 shares of the company’s stock were exchanged, compared to its average volume of 173,889. 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 market capitalization of $2.48 billion, a price-to-earnings ratio of 10.23 and a beta of 0.51. The company’s 50-day moving average price is $56.21 and its 200-day moving average price is $52.78.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The firm had revenue of $155.93 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. On average, research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share 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 issued a $0.50 dividend. 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 dividend payout ratio is 34.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. 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. Wells Fargo & Company upped their price target 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, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

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