Ritholtz Wealth Management Takes Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Ritholtz Wealth Management acquired a new position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,336 shares of the bank’s stock, valued at approximately $1,382,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC lifted its position in Bank of N.T. Butterfield & Son by 119.4% in the 3rd quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after acquiring an additional 215,397 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $9,579,000. LSV Asset Management raised its stake in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after purchasing an additional 172,666 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 648.6% in the first quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock valued at $10,168,000 after purchasing an additional 167,871 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after purchasing an additional 155,784 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company boosted 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. One equities research 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. According to data from MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $60.16 on Monday. The business has a 50-day moving average of $56.86 and a 200 day moving average of $53.49. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $60.35. The firm has a market cap of $2.52 billion, a P/E ratio of 10.41 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly 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 net margin of 30.22% and a return on equity of 21.92%. As a group, research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company 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 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 34.60%.

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

In other Bank of N.T. Butterfield & Son news, CEO Michael W. Collins sold 20,621 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total value of $1,211,896.17. Following the completion of the transaction, the chief executive officer directly owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This trade represents a 25.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark T. Lynch acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $56.49 per share, with a total value of $564,900.00. Following the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 60,621 shares of company stock worth $3,557,496 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.