Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 20,000 Shares

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 on Friday, June 12th. The stock was sold at an average price of $58.75, for a total value of $1,175,000.00. Following the sale, the chief executive officer directly owned 101,243 shares in the company, valued at $5,948,026.25. This trade represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

Shares of Bank of N.T. Butterfield & Son stock traded up $0.67 on Tuesday, reaching $59.13. 243,054 shares of the company were exchanged, compared to its average volume of 173,889. The stock has a fifty day moving average price of $56.21 and a 200-day moving average price of $52.78. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 10.23 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $59.36.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (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%. On average, equities analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on 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. Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Finally, Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTB. Millennium Management LLC grew its stake in Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after purchasing an additional 215,397 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $9,579,000. LSV Asset Management grew its stake in 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 purchasing an additional 172,666 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Bank of N.T. Butterfield & Son by 648.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock worth $10,168,000 after acquiring an additional 167,871 shares in the last quarter. Finally, UBS Group AG boosted its stake in shares of Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after acquiring an additional 155,784 shares in the last quarter. Hedge funds and other institutional investors 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.