Globeflex Capital L P purchased a new stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 138,249 shares of the bank's stock, valued at approximately $8,226,000. Bank of N.T. Butterfield & Son accounts for approximately 1.1% of Globeflex Capital L P's holdings, making the stock its 20th largest position. Globeflex Capital L P owned 0.33% of Bank of N.T. Butterfield & Son as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank's stock valued at $83,730,000 after acquiring an additional 33,493 shares during the last quarter. Invesco Ltd. increased its stake in Bank of N.T. Butterfield & Son by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,026,549 shares of the bank's stock worth $51,143,000 after acquiring an additional 60,796 shares during the last quarter. Nuveen LLC increased its stake in Bank of N.T. Butterfield & Son by 1.2% during the fourth quarter. Nuveen LLC now owns 906,502 shares of the bank's stock worth $45,162,000 after acquiring an additional 10,852 shares during the last quarter. LSV Asset Management raised its position in Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank's stock valued at $41,048,000 after purchasing an additional 172,666 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Bank of N.T. Butterfield & Son by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 704,254 shares of the bank's stock valued at $35,086,000 after purchasing an additional 10,967 shares during the period. Institutional investors and hedge funds own 62.73% of the company's stock.
Bank of N.T. Butterfield & Son Stock Performance
NYSE:NTB opened at $58.59 on Monday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $64.17. The company has a 50 day moving average price of $60.64 and a 200 day moving average price of $56.42. The stock has a market capitalization of $2.46 billion, a P/E ratio of 10.30 and a beta of 0.51.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) 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 6.25 earnings per share for the current fiscal year.
Bank of N.T. Butterfield & Son Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. 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 presently 35.15%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on NTB shares. Wells Fargo & Company increased their price target 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 restated a "buy (a-)" rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.50.
Check Out Our Latest Stock Analysis on NTB
Insider Transactions at Bank of N.T. Butterfield & Son
In related news, Director Richard Saunders sold 18,118 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $61.33, for a total value of $1,111,176.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Mcwatt sold 12,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $61.78, for a total value of $741,360.00. Following the transaction, the director directly owned 22,544 shares in the company, valued at approximately $1,392,768.32. The trade was a 34.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 347,429 shares of company stock worth $21,185,816. 1.19% of the stock is owned by corporate insiders.
About Bank of N.T. Butterfield & Son
(
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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Want to see what other hedge funds are holding NTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report).
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