Michael Collins Sells 70,859 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 70,859 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $61.79, for a total value of $4,378,377.61. Following the sale, the chief executive officer owned 61,178 shares of the company’s stock, valued at $3,780,188.62. The trade was a 53.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $58.76 on Friday. The stock’s fifty day moving average is $60.65 and its two-hundred day moving average is $56.38. The firm has a market capitalization of $2.46 billion, a P/E ratio of 10.33 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The business 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%. On average, equities analysts forecast 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 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on NTB shares. Keefe, Bruyette & Woods increased their price objective on shares of 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 restated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company increased 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 report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and an average price target of $63.50.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares during the last quarter. PNC Financial Services Group Inc. grew 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 buying an additional 1,045 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $56,000. Los Angeles Capital Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $67,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $114,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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.