Michael Collins Sells 20,621 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 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total value of $1,211,896.17. Following the sale, the chief executive officer directly owned 60,622 shares in the company, valued at $3,562,754.94. The trade was a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Bank of N.T. Butterfield & Son Trading Down 1.7%

NYSE NTB opened at $58.13 on Thursday. The stock’s 50 day moving average is $56.41 and its two-hundred day moving average is $52.95. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 10.06 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 $59.36.

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 for the quarter. The company 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%. On average, analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NTB shares. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company lifted their price objective on 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. Finally, Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Seelaus Asset Management LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 4.1% in the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after acquiring an additional 250 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock worth $264,000 after acquiring an additional 328 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Bank of N.T. Butterfield & Son by 284.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after acquiring an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 33.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock worth $95,000 after acquiring an additional 456 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 3.2% in the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock worth $654,000 after acquiring an additional 457 shares in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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.