Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $1,211,896.17 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,621 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the completion of the sale, the chief executive officer owned 60,622 shares of the company’s stock, valued at approximately $3,562,754.94. The trade was a 25.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Stock Up 1.0%

Bank of N.T. Butterfield & Son stock opened at $58.66 on Friday. The company’s fifty day simple moving average is $56.49 and its 200-day simple moving average is $53.03. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $59.36. The stock has a market cap of $2.46 billion, a P/E ratio of 10.15 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. The business had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. On average, equities research analysts expect 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 34.60%.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Institutional investors have recently bought and sold shares of the stock. Bell Investment Advisors Inc lifted its position in shares of Bank of N.T. Butterfield & Son by 284.4% in the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after buying an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of 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 valued at $34,000 after acquiring an additional 523 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of 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 valued at $42,000 after acquiring an additional 672 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,045 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $56,000. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted 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 note on Monday, June 8th. 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. Finally, Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.33.

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.