Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 75,000 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 75,000 shares of Bank of N.T. Butterfield & Son stock in a transaction on Monday, August 17th. The shares were sold at an average price of $62.98, for a total value of $4,723,500.00. Following the completion of the transaction, the chief executive officer owned 132,037 shares of the company’s stock, valued at approximately $8,315,690.26. The trade was a 36.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $59.13 on Thursday. The business’s fifty day moving average is $60.63 and its two-hundred day moving average is $56.33. 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 announced its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%.The company had revenue of $159.00 million during the quarter. On average, equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

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

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Bank of N.T. Butterfield & Son by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after buying an additional 33,493 shares in the last quarter. Invesco Ltd. lifted its holdings in Bank of N.T. Butterfield & Son by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock worth $51,143,000 after acquiring an additional 60,796 shares in the last quarter. Nuveen LLC lifted its holdings in Bank of N.T. Butterfield & Son by 1.2% during the fourth quarter. Nuveen LLC now owns 906,502 shares of the bank’s stock worth $45,162,000 after acquiring an additional 10,852 shares in the last quarter. 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 acquiring an additional 172,666 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Bank of N.T. Butterfield & Son by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 704,254 shares of the bank’s stock valued at $35,086,000 after acquiring an additional 10,967 shares during the period. 62.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on NTB shares. Keefe, Bruyette & Woods raised their price target on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Finally, Wells Fargo & Company upped their target price on shares of 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 research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son 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.