Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 20,000 Shares of 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 on Friday, June 12th. The stock was sold at an average price of $58.75, for a total transaction of $1,175,000.00. Following the transaction, the chief executive officer directly owned 101,243 shares in the company, valued at approximately $5,948,026.25. The trade was a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

NYSE NTB opened at $59.13 on Wednesday. The company’s fifty day simple moving average is $56.32 and its 200-day simple moving average is $52.86. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $59.36. The stock has a market cap of $2.48 billion, a P/E ratio of 10.23 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. The business had revenue of $155.93 million for the quarter. On average, research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s payout ratio is presently 34.60%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company boosted their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.33.

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

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 119.4% during the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock worth $16,985,000 after purchasing an additional 215,397 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $9,579,000. LSV Asset Management raised its holdings in shares of Bank of N.T. Butterfield & Son by 26.5% during 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. raised its holdings 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 worth $10,168,000 after purchasing an additional 167,871 shares during the period. Finally, UBS Group AG raised its holdings 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 worth $9,803,000 after purchasing an additional 155,784 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

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.