Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 97.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 24,895 shares of the bank’s stock after buying an additional 12,290 shares during the quarter. Quantbot Technologies LP’s holdings in Bank of N.T. Butterfield & Son were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of NTB. Rovida Advisors Inc. purchased a new position in Bank of N.T. Butterfield & Son in the 2nd quarter valued at $79,413,000. American Century Companies Inc. raised its position in Bank of N.T. Butterfield & Son by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,377,664 shares of the bank’s stock worth $61,003,000 after buying an additional 120,467 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Bank of N.T. Butterfield & Son by 3.8% in the 2nd quarter. Invesco Ltd. now owns 917,385 shares of the bank’s stock worth $40,622,000 after acquiring an additional 33,657 shares during the period. LSV Asset Management boosted its holdings in shares of Bank of N.T. Butterfield & Son by 6.9% in the third quarter. LSV Asset Management now owns 651,259 shares of the bank’s stock valued at $27,952,000 after acquiring an additional 41,800 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Bank of N.T. Butterfield & Son by 1.2% during the second quarter. Bridgeway Capital Management LLC now owns 268,419 shares of the bank’s stock worth $11,886,000 after acquiring an additional 3,158 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $50.21 on Friday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $34.85 and a fifty-two week high of $55.84. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.16 and a beta of 0.54. The stock’s fifty day moving average is $51.34 and its two-hundred day moving average is $47.56.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.08. Bank of N.T. Butterfield & Son had a return on equity of 21.72% and a net margin of 29.00%.The business had revenue of $158.90 million during the quarter, compared to the consensus estimate of $153.49 million. During the same quarter in the previous year, the company posted $1.34 EPS. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son announced that its board has approved a stock repurchase plan on Monday, December 8th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the bank to purchase up to 6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, February 23rd. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 36.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NTB. Wells Fargo & Company raised their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Zacks Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods upped their price objective on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.