Insider Selling: Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Sells 20,000 Shares of Stock

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 101,243 shares of the company’s stock, valued at $5,948,026.25. This represents a 16.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Bank of N.T. Butterfield & Son Price Performance

NYSE:NTB traded up $0.67 during midday trading on Tuesday, reaching $59.13. 243,054 shares of the company traded hands, compared to its average volume of 173,889. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $59.36. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 10.23 and a beta of 0.51. The company has a fifty day moving average price of $56.21 and a 200 day moving average price of $52.78.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The business had revenue of $155.93 million during the quarter. On average, equities research 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

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

Institutional Trading of Bank of N.T. Butterfield & Son

A number of hedge funds and other institutional investors have recently modified their holdings of NTB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bank of N.T. Butterfield & Son by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank’s stock worth $1,027,000 after buying an additional 1,148 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 80.3% in the 1st quarter. Jane Street Group LLC now owns 70,537 shares of the bank’s stock worth $2,745,000 after buying an additional 31,420 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth $243,000. Invesco Ltd. raised its stake in shares of Bank of N.T. Butterfield & Son by 3.8% in the 2nd quarter. Invesco Ltd. now owns 917,385 shares of the bank’s stock worth $40,622,000 after buying an additional 33,657 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 204.3% in 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 in the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports 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. Wells Fargo & Company lifted their target price on 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. Finally, Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.33.

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.