Globeflex Capital L P Purchases Shares of 138,249 Bank of N.T. Butterfield & Son Limited (The) $NTB

Globeflex Capital L P purchased a new position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 138,249 shares of the bank’s stock, valued at approximately $8,226,000. Bank of N.T. Butterfield & Son makes up about 1.1% of Globeflex Capital L P’s portfolio, making the stock its 20th largest holding.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after acquiring an additional 523 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd 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 in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Los Angeles Capital Management LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $67,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $114,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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

In related news, insider Tara Hidalgo sold 18,587 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,138,825.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Mcwatt sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $61.78, for a total transaction of $741,360.00. Following the completion of the transaction, the director owned 22,544 shares in the company, valued at $1,392,768.32. This represents a 34.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 347,429 shares of company stock worth $21,185,816. 1.19% of the stock is currently owned by corporate insiders.

Bank of N.T. Butterfield & Son Trading Down 0.0%

Shares of NTB stock opened at $58.59 on Monday. The firm has a fifty day moving average price of $60.64 and a 200 day moving average price of $56.42. The company has a market cap of $2.46 billion, a P/E ratio of 10.30 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $64.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share 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. On average, equities analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a $0.50 dividend. The ex-dividend date 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 dividend payout ratio is presently 35.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NTB shares. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Wells Fargo & Company upped their target price 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 research note on Monday, June 8th. Finally, Keefe, Bruyette & Woods raised 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 report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Bank of N.T. Butterfield & Son Company 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.