Bank of N.T. Butterfield & Son (NYSE:NTB) CEO Michael Collins Sells 75,000 Shares

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) CEO Michael Collins sold 75,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $62.98, for a total transaction of $4,723,500.00. Following the completion of the sale, the chief executive officer owned 132,037 shares in the company, valued at $8,315,690.26. The trade was a 36.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Bank of N.T. Butterfield & Son Stock Down 3.9%

NTB traded down $2.38 during trading on Wednesday, reaching $59.13. The stock had a trading volume of 232,075 shares, compared to its average volume of 181,241. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 10.39 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $64.17. The stock has a 50 day moving average of $60.62 and a two-hundred day moving average of $56.28.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. On average, research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s payout ratio is presently 35.15%.

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

A number of large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new stake in Bank of N.T. Butterfield & Son during the second quarter worth $1,374,000. Parvin Asset Management LLC acquired a new position in Bank of N.T. Butterfield & Son during the second quarter worth $424,000. Globeflex Capital L P acquired a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at approximately $8,226,000. Redhawk Wealth Advisors Inc. grew its holdings in Bank of N.T. Butterfield & Son by 3.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 29,294 shares of the bank’s stock valued at $1,743,000 after purchasing an additional 1,082 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Bank of N.T. Butterfield & Son by 9.6% in the 1st quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock worth $8,368,000 after purchasing an additional 14,008 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. Keefe, Bruyette & Woods boosted their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and an average price target of $63.50.

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.