Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) CEO Michael Collins sold 20,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $58.53, for a total value of $1,170,600.00. Following the completion of the transaction, the chief executive officer directly owned 81,243 shares in the company, valued at approximately $4,755,152.79. This trade represents a 19.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Bank of N.T. Butterfield & Son Stock Performance
Shares of NTB opened at $59.13 on Wednesday. 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's 50 day moving average price is $56.32 and its two-hundred day moving average price is $52.86. The firm has a market cap of $2.48 billion, a PE ratio of 10.23 and a beta of 0.51.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share 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 company had revenue of $155.93 million for the quarter. Research analysts predict 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 company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were 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 was Wednesday, May 13th. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 34.60%.
Institutional Investors Weigh In On Bank of N.T. Butterfield & Son
A number of institutional investors and hedge funds have recently bought and sold shares of NTB. Bank of America Corp DE increased its position in shares of Bank of N.T. Butterfield & Son by 9.6% during the 1st quarter. Bank of America Corp DE now owns 159,457 shares of the bank's stock valued at $8,368,000 after purchasing an additional 14,008 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Bank of N.T. Butterfield & Son by 33.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank's stock valued at $95,000 after purchasing an additional 456 shares during the last quarter. Empowered Funds LLC increased its position in shares of Bank of N.T. Butterfield & Son by 5.0% during the 1st quarter. Empowered Funds LLC now owns 180,408 shares of the bank's stock valued at $9,468,000 after purchasing an additional 8,573 shares during the last quarter. Infrastructure Capital Advisors LLC increased its position in shares of Bank of N.T. Butterfield & Son by 6.2% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank's stock valued at $720,000 after purchasing an additional 802 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Bank of N.T. Butterfield & Son by 47.7% during the 1st quarter. Quantinno Capital Management LP now owns 13,111 shares of the bank's stock valued at $688,000 after purchasing an additional 4,237 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped 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 report on Monday, June 8th. Zacks Research lowered Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Finally, Weiss Ratings raised Bank of N.T. Butterfield & Son from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.33.
View Our Latest Report on Bank of N.T. Butterfield & Son
About Bank of N.T. Butterfield & Son
(
Get Free Report)
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.
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