Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $1,170,600.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTBGet Free Report) CEO Michael Collins sold 20,000 shares of Bank of N.T. Butterfield & Son stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $58.53, for a total value of $1,170,600.00. Following the transaction, the chief executive officer owned 81,243 shares of the company’s stock, valued at $4,755,152.79. This trade represents a 19.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $58.66 on Friday. The firm has a market capitalization of $2.46 billion, a P/E ratio of 10.15 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. The stock has a 50 day moving average price of $56.49 and a two-hundred day moving average price of $53.03.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Free Report) last posted its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. The company 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 year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 34.60%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bell Investment Advisors Inc grew its position in Bank of N.T. Butterfield & Son by 284.4% during the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after buying an additional 455 shares during the period. EverSource Wealth Advisors LLC raised its position in Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after acquiring an additional 523 shares during the period. Jones Financial Companies Lllp boosted its stake in Bank of N.T. Butterfield & Son by 234.1% in the third quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock valued at $42,000 after acquiring an additional 672 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Bank of N.T. Butterfield & Son by 3,371.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,045 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at approximately $56,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company raised 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 report on Monday, June 8th. Finally, Weiss Ratings upgraded 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 equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Check Out Our Latest Research Report on NTB

Bank of N.T. Butterfield & Son Company Profile

(Get Free Report)

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.

Further Reading

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