Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $4,378,377.61 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 70,859 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $61.79, for a total value of $4,378,377.61. Following the completion of the sale, the chief executive officer directly owned 61,178 shares of the company’s stock, valued at $3,780,188.62. The trade was a 53.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

NYSE:NTB opened at $58.59 on Friday. The firm’s fifty day simple moving average is $60.64 and its 200 day simple moving average is $56.40. The stock has a market cap of $2.46 billion, a P/E ratio of 10.30 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 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 during the quarter. On average, analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a 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 is presently 35.15%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its position in Bank of N.T. Butterfield & Son by 119.4% during the 3rd quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after acquiring an additional 215,397 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Bank of N.T. Butterfield & Son in the fourth quarter worth about $9,579,000. LSV Asset Management grew its holdings 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 worth $41,048,000 after purchasing an additional 172,666 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Bank of N.T. Butterfield & Son by 648.6% during the first quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock valued at $10,168,000 after purchasing an additional 167,871 shares in the last quarter. Finally, UBS Group AG increased its stake in shares of Bank of N.T. Butterfield & Son by 380.1% during the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after purchasing an additional 155,784 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company lifted 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 research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.