Renaissance Technologies LLC Increases Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Renaissance Technologies LLC lifted its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 182.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,000 shares of the bank’s stock after buying an additional 24,566 shares during the quarter. Renaissance Technologies LLC owned approximately 0.09% of Bank of N.T. Butterfield & Son worth $1,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after acquiring an additional 523 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in 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 purchasing an additional 1,045 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the third quarter worth $56,000. Los Angeles Capital Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at $114,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Up 1.5%

Shares of NYSE NTB opened at $63.45 on Wednesday. The business has a fifty day simple moving average of $60.06 and a two-hundred day simple moving average of $55.85. The firm has a market cap of $2.66 billion, a PE ratio of 11.15 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $63.81.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. The business had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 22.43% and a net margin of 29.34%. On average, research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 35.15%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NTB. Wells Fargo & Company upped their price target on shares of 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. Keefe, Bruyette & Woods lifted their price objective 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 report on Monday, August 3rd. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus price target of $63.50.

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

In other news, insider Tara Hidalgo sold 18,587 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,138,825.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Saunders sold 18,118 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $61.33, for a total transaction of $1,111,176.94. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,392 shares of company stock worth $8,433,447 over the last quarter. Corporate insiders own 1.19% of the company’s stock.

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.