Dimensional Fund Advisors LP Has $83.73 Million Stock Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Dimensional Fund Advisors increased its NTB stake by 2.1% in the first quarter, owning 1.6 million shares worth approximately $83.7 million, or 3.81% of the bank. Institutional investors collectively hold 62.73% of the company.
• Butterfield reported quarterly earnings of $1.58 per share on $159 million in revenue, with a 22.43% return on equity and a 29.34% net margin. The stock recently traded at $61.84, near its 52-week high of $62.46.
• The bank declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus, with a $59.50 average price target, while recent insider activity included CEO share sales and a director purchase.

Dimensional Fund Advisors LP grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,595,506 shares of the bank's stock after purchasing an additional 33,493 shares during the quarter. Dimensional Fund Advisors LP owned about 3.81% of Bank of N.T. Butterfield & Son worth $83,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank's stock valued at $34,000 after buying an additional 523 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank's stock worth $46,000 after buying an additional 1,045 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Los Angeles Capital Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $67,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $114,000. Institutional investors and hedge funds own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock opened at $61.84 on Friday. The company has a 50 day moving average price of $59.16 and a two-hundred day moving average price of $55.18. The stock has a market capitalization of $2.59 billion, a P/E ratio of 10.87 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a one year low of $40.59 and a one year high of $62.46.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%.The company had revenue of $159.00 million for the quarter. Research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, August 12th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 35.15%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NTB shares. Wells Fargo & Company boosted 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 report on Monday, June 8th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Finally, Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.50.

Insider Transactions at Bank of N.T. Butterfield & Son

In other Bank of N.T. Butterfield & Son news, CEO Michael W. Collins sold 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction 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 transaction, the chief executive officer owned 60,622 shares in the company, valued at $3,562,754.94. This trade represents a 25.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark T. Lynch purchased 10,000 shares of the firm's stock in a transaction on Friday, May 29th. The stock was bought at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the acquisition, the director owned 234,794 shares in the company, valued at $13,263,513.06. The trade was a 4.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 60,621 shares of company stock worth $3,557,496. 1.19% of the stock is owned by corporate insiders.

Bank of N.T. Butterfield & Son 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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