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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) 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 completion of the transaction, the chief executive officer owned 81,243 shares in the company, valued at approximately $4,755,152.79. This represents a 19.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bank of N.T. Butterfield & Son Stock Up 1.1%

Shares of NTB stock opened at $59.13 on Wednesday. The firm has a market capitalization 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 twelve month low of $40.59 and a twelve month high of $59.36. The stock’s fifty day simple moving average is $56.32 and its 200 day simple moving average is $52.86.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share 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%. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

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

Several institutional investors have recently added to or reduced their stakes in NTB. Millennium Management LLC lifted its stake in Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after buying an additional 215,397 shares during the period. Lord Abbett & CO. LLC acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $9,579,000. LSV Asset Management lifted its stake in 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 buying an additional 172,666 shares during the period. Assenagon Asset Management S.A. lifted its stake in Bank of N.T. Butterfield & Son by 648.6% in the first quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock valued at $10,168,000 after buying an additional 167,871 shares during the period. Finally, UBS Group AG lifted its stake in Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after buying an additional 155,784 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTB has been the topic of several research reports. 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. Wells Fargo & Company boosted 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. Finally, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

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.