Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Get Free Report) CEO Michael Collins sold 20,621 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total value of $1,211,896.17. Following the completion of the transaction, the chief executive officer owned 60,622 shares in the company, valued at approximately $3,562,754.94. The trade was a 25.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Bank of N.T. Butterfield & Son Stock Performance
Shares of NYSE:NTB opened at $59.13 on Wednesday. The business’s 50 day simple moving average is $56.32 and its two-hundred day simple moving average is $52.86. The firm has a market cap of $2.48 billion, a P/E ratio of 10.23 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 $59.36.
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. On average, equities analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after purchasing an additional 33,493 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 10.2% in the third quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock valued at $65,140,000 after purchasing an additional 140,041 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 6.3% in the fourth quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock valued at $51,143,000 after purchasing an additional 60,796 shares in the last quarter. Nuveen LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 1.2% in the fourth quarter. Nuveen LLC now owns 906,502 shares of the bank’s stock valued at $45,162,000 after purchasing an additional 10,852 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of 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 purchasing an additional 172,666 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on NTB shares. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. Finally, Wells Fargo & Company increased their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.
Get Our Latest Analysis on NTB
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.
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