Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 61,178 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 61,178 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $59.67, for a total transaction of $3,650,491.26. Following the transaction, the chief executive officer directly owned 132,037 shares in the company, valued at $7,878,647.79. The trade was a 31.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock opened at $59.13 on Thursday. 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 1-year low of $40.59 and a 1-year high of $64.17. The firm’s 50-day simple moving average is $60.63 and its 200-day simple moving average is $56.33.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The firm had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. Analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

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

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

A number of hedge funds have recently modified their holdings of NTB. UBS Group AG grew 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 valued at $9,803,000 after buying an additional 155,784 shares in the last quarter. LSV Asset Management lifted its stake in Bank of N.T. Butterfield & Son by 26.5% in the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after acquiring an additional 172,666 shares in the last quarter. Strategic Global Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 52.7% in the 4th quarter. Strategic Global Advisors LLC now owns 232,513 shares of the bank’s stock worth $11,584,000 after acquiring an additional 80,244 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in Bank of N.T. Butterfield & Son during the 1st quarter worth about $1,382,000. Finally, Globeflex Capital L P boosted its position in Bank of N.T. Butterfield & Son by 24.1% during the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock worth $6,496,000 after acquiring an additional 25,349 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Keefe, Bruyette & Woods increased their price target on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company raised their price objective 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 note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently 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.