Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 61,178 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 61,178 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $59.67, for a total value of $3,650,491.26. Following the transaction, the chief executive officer owned 132,037 shares in the company, valued at $7,878,647.79. The trade was a 31.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded down $2.38 during midday trading on Wednesday, hitting $59.13. 232,075 shares of the stock were exchanged, compared to its average volume of 181,241. The stock has a fifty day simple moving average of $60.62 and a 200 day simple moving average of $56.28. The firm has a market cap of $2.48 billion, a P/E 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 released its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. The business had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. As a group, equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NTB. Seelaus Asset Management LLC increased its stake in Bank of N.T. Butterfield & Son by 4.1% during the 4th 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 period. Raymond James Financial Inc. raised its position 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 worth $264,000 after buying an additional 328 shares during the period. EverSource Wealth Advisors LLC grew its position in Bank of N.T. Butterfield & Son by 33.9% in the first 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 in the last quarter. Cerity Partners LLC increased its holdings in Bank of N.T. Butterfield & Son by 3.2% in the second quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after buying an additional 457 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock valued at $380,000 after acquiring an additional 492 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their target price 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 research note on Monday, August 3rd. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock 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 note 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.50.

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.