OppenheimerFunds Inc. Takes Position in Bank of N.T. Butterfield & Son Limited (The) (NTB)

OppenheimerFunds Inc. purchased a new position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 403,876 shares of the bank’s stock, valued at approximately $12,888,000.

A number of other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth $161,000. American International Group Inc. bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth $234,000. First Interstate Bank boosted its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 14.8% in the first quarter. First Interstate Bank now owns 7,330 shares of the bank’s stock worth $234,000 after buying an additional 945 shares in the last quarter. Ellington Management Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter worth $299,000. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth $392,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Shares of Bank of N.T. Butterfield & Son Limited (NYSE NTB) traded down 0.98% during midday trading on Tuesday, reaching $34.27. The company’s stock had a trading volume of 44,381 shares. The company has a market cap of $1.86 billion and a price-to-earnings ratio of 24.65. Bank of N.T. Butterfield & Son Limited has a 12 month low of $23.75 and a 12 month high of $35.44. The stock has a 50-day moving average of $33.97 and a 200 day moving average of $32.60.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last posted its quarterly earnings data on Tuesday, April 25th. The bank reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $106.47 million during the quarter, compared to analysts’ expectations of $105.18 million. On average, analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Monday, May 15th were paid a $0.32 dividend. This is an increase from Bank of N.T. Butterfield & Son Limited (The)’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, May 11th. This represents a $1.28 annualized dividend and a yield of 3.70%.

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A number of brokerages recently weighed in on NTB. Zacks Investment Research raised Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, June 13th. Keefe, Bruyette & Woods set a $35.00 price target on Bank of N.T. Butterfield & Son Limited (The) and gave the stock a “buy” rating in a research note on Thursday, March 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $32.25.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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).

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