Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Bought by Strategic Global Advisors LLC

Key Points

• Strategic Global Advisors LLC increased its stake in Bank of N.T. Butterfield & Son by 52.7% in the fourth quarter, making the stock its 11th-largest holding and representing about 1.8% of its portfolio.
• The bank reported solid recent performance, posting $1.55 EPS on revenue of $155.93 million for the quarter, with analysts forecasting 6.1 EPS for the current fiscal year.
• Butterfield also returned cash to shareholders with a quarterly dividend of $0.50, equal to a 3.4% annualized yield, while director Mark T. Lynch bought 10,000 shares in late May.

Strategic Global Advisors LLC boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,513 shares of the bank's stock after buying an additional 80,244 shares during the period. Bank of N.T. Butterfield & Son accounts for approximately 1.8% of Strategic Global Advisors LLC's portfolio, making the stock its 11th biggest holding. Strategic Global Advisors LLC owned about 0.55% of Bank of N.T. Butterfield & Son worth $11,584,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. increased its position in Bank of N.T. Butterfield & Son by 27.1% during the fourth quarter. Panagora Asset Management Inc. now owns 85,485 shares of the bank's stock worth $4,259,000 after buying an additional 18,229 shares during the period. Mariner LLC increased its position in Bank of N.T. Butterfield & Son by 97.7% during the fourth quarter. Mariner LLC now owns 29,346 shares of the bank's stock worth $1,463,000 after buying an additional 14,505 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $2,113,000. Landscape Capital Management L.L.C. acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $246,000. Finally, Barclays PLC increased its position in Bank of N.T. Butterfield & Son by 10.0% during the fourth quarter. Barclays PLC now owns 64,984 shares of the bank's stock worth $3,238,000 after buying an additional 5,886 shares during the period. Institutional investors and hedge funds own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Trading Up 0.2%

NYSE:NTB opened at $58.94 on Monday. The firm has a market cap of $2.47 billion, a P/E ratio of 10.20 and a beta of 0.51. The stock's 50 day simple moving average is $56.11 and its 200-day simple moving average is $52.69. Bank of N.T. Butterfield & Son Limited has a 12-month low of $40.59 and a 12-month high of $59.27.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released 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 for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son's payout ratio is 34.60%.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch purchased 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares in the company, valued at $13,263,513.06. This represents a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NTB has been the topic of a number of recent research reports. Zacks Research lowered Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. 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. Finally, Wells Fargo & Company boosted 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 report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.33.

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.

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