Michael Collins Sells 20,000 Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $58.75, for a total transaction of $1,175,000.00. Following the sale, the chief executive officer owned 101,243 shares in the company, valued at $5,948,026.25. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Bank of N.T. Butterfield & Son Trading Down 1.7%

Shares of NTB stock opened at $58.13 on Thursday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 10.06 and a beta of 0.51. The firm’s 50 day moving average is $56.41 and its 200 day moving average is $52.95. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $59.36.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The company 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 analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were paid 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 was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 34.60%.

Analyst Ratings Changes

A number of brokerages recently commented on NTB. Wells Fargo & Company upped their price target 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. 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. Finally, Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Seelaus Asset Management LLC grew its position in shares of Bank of N.T. Butterfield & Son by 4.1% during the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock valued at $313,000 after purchasing an additional 250 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock valued at $264,000 after purchasing an additional 328 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Bank of N.T. Butterfield & Son by 284.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after purchasing an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Bank of N.T. Butterfield & Son by 33.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock valued at $95,000 after purchasing an additional 456 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after purchasing an additional 457 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

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.