Michael Collins Sells 61,178 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 61,178 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $59.67, for a total value of $3,650,491.26. Following the transaction, the chief executive officer directly owned 132,037 shares of the company’s stock, valued at approximately $7,878,647.79. This represents a 31.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Bank of N.T. Butterfield & Son Stock Performance

NTB opened at $58.76 on Friday. Bank of N.T. Butterfield & Son Limited has a one year low of $40.59 and a one year high of $64.17. The company has a market cap of $2.46 billion, a P/E ratio of 10.33 and a beta of 0.51. The business’s 50-day simple moving average is $60.65 and its 200-day simple moving average is $56.38.

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 for the quarter. The firm had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. As a group, analysts predict 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 Dividend Announcement

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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 35.15%.

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

A number of institutional investors have recently modified their holdings of NTB. Seelaus Asset Management LLC boosted its stake in 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 worth $313,000 after purchasing an additional 250 shares during the period. Raymond James Financial Inc. increased its stake in Bank of N.T. Butterfield & Son by 5.6% in the third 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 during the period. EverSource Wealth Advisors LLC increased its stake in Bank of N.T. Butterfield & Son by 33.9% in the first 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 during the period. Cerity Partners LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 3.2% in the second quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after buying an additional 457 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock valued at $380,000 after buying an additional 492 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on NTB shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods boosted their price target 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 research report on Monday, August 3rd. Finally, Wells Fargo & Company upped 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 investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

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.