Strategic Global Advisors LLC Boosts Stake in Bank of N.T. Butterfield & Son Limited (The) $NTB

Strategic Global Advisors LLC lifted its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 52.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 232,513 shares of the bank’s stock after purchasing an additional 80,244 shares during the quarter. Bank of N.T. Butterfield & Son comprises 1.8% of Strategic Global Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Strategic Global Advisors LLC’s holdings in Bank of N.T. Butterfield & Son were worth $11,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the business. Seelaus Asset Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 4.1% in the fourth quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock valued at $313,000 after buying an additional 250 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 5.6% in the third quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock valued at $264,000 after buying an additional 328 shares in the last quarter. Bell Investment Advisors Inc boosted its position in Bank of N.T. Butterfield & Son by 284.4% during the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after purchasing an additional 455 shares in the last quarter. Cerity Partners LLC boosted its position in Bank of N.T. Butterfield & Son by 3.2% during the second quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock worth $654,000 after purchasing an additional 457 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in Bank of N.T. Butterfield & Son by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock worth $380,000 after purchasing an additional 492 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

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

In related news, Director Mark T. Lynch purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $56.49 per share, with a total value of $564,900.00. Following the completion of the acquisition, the director directly owned 234,794 shares in the company, valued at $13,263,513.06. The trade was a 4.45% increase in their position. 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.

Analysts Set New Price Targets

A number of analysts have commented on NTB shares. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, 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 research report on Monday, June 8th. One 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Bank of N.T. Butterfield & Son Stock Performance

NTB opened at $58.94 on Monday. The business’s fifty day moving average is $56.11 and its two-hundred day moving average is $52.69. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 10.20 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 $59.27.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The company 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%. On average, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.50 dividend. 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 payout ratio is 34.60%.

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.