Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells $1,175,000.00 in Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $58.75, for a total value of $1,175,000.00. Following the sale, the chief executive officer owned 101,243 shares of the company’s stock, valued at approximately $5,948,026.25. The trade was a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Stock Up 1.0%

NTB stock opened at $58.66 on Friday. Bank of N.T. Butterfield & Son Limited has a 52 week low of $40.59 and a 52 week high of $59.36. The business has a 50-day simple moving average of $56.49 and a 200 day simple moving average of $53.03. The company has a market cap of $2.46 billion, a PE ratio of 10.15 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The firm had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. On average, analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced 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 is presently 34.60%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NTB shares. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company lifted 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 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 assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.33.

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

Several large investors have recently bought and sold shares of NTB. Bell Investment Advisors Inc boosted its stake in shares of 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 purchasing an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after buying an additional 523 shares during the period. Jones Financial Companies Lllp boosted its position in Bank of N.T. Butterfield & Son by 234.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock worth $42,000 after buying an additional 672 shares during the period. PNC Financial Services Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $56,000. 62.73% of the stock is currently owned by institutional investors.

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.