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

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 stock was sold at an average price of $58.53, for a total transaction of $1,170,600.00. Following the completion of the transaction, the chief executive officer directly owned 81,243 shares of the company’s stock, valued at $4,755,152.79. This trade represents a 19.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Bank of N.T. Butterfield & Son Stock Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $58.13 on Thursday. The stock has a market capitalization of $2.44 billion, a PE ratio of 10.06 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 company has a 50-day simple moving average of $56.41 and a two-hundred day simple moving average of $52.95.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its 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 during the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.4%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Analysts Set New Price Targets

Several research analysts have issued reports on NTB shares. Weiss Ratings raised 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. Wells Fargo & Company lifted their target price on shares of 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 shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.33.

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

Large investors have recently made changes to their positions in the stock. UBS Group AG grew its stake in shares of 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 worth $9,803,000 after acquiring an additional 155,784 shares during the period. Quantbot Technologies LP grew its stake in shares of Bank of N.T. Butterfield & Son by 97.5% in the third quarter. Quantbot Technologies LP now owns 24,895 shares of the bank’s stock worth $1,068,000 after acquiring an additional 12,290 shares during the period. Tudor Investment Corp ET AL grew its stake in shares of Bank of N.T. Butterfield & Son by 16.7% in the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after acquiring an additional 19,327 shares during the period. LSV Asset Management grew its stake 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 worth $41,048,000 after acquiring an additional 172,666 shares during the period. Finally, American Century Companies Inc. grew its stake 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 worth $65,140,000 after acquiring an additional 140,041 shares during the period. 62.73% of the stock is currently owned by institutional investors.

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.