Bank of N.T. Butterfield & Son Limited (The) $NTB Position Boosted by UBS Group AG

UBS Group AG lifted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 380.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 196,771 shares of the bank’s stock after purchasing an additional 155,784 shares during the period. UBS Group AG’s holdings in Bank of N.T. Butterfield & Son were worth $9,803,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 10.2% in the third quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock worth $65,140,000 after acquiring an additional 140,041 shares during the last quarter. Quantbot Technologies LP lifted its holdings in Bank of N.T. Butterfield & Son by 97.5% in the third quarter. Quantbot Technologies LP now owns 24,895 shares of the bank’s stock worth $1,068,000 after acquiring an additional 12,290 shares during the last quarter. Tudor Investment Corp ET AL lifted its holdings in Bank of N.T. Butterfield & Son by 16.7% in the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after acquiring an additional 19,327 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 33.2% in the third quarter. Federated Hermes Inc. now owns 183,768 shares of the bank’s stock worth $7,887,000 after acquiring an additional 45,775 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Bank of N.T. Butterfield & Son by 6.9% in the third quarter. LSV Asset Management now owns 651,259 shares of the bank’s stock worth $27,952,000 after acquiring an additional 41,800 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $54.57 on Friday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 9.44 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $57.84. The business has a 50 day moving average price of $53.77 and a two-hundred day moving average price of $51.02.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. The firm had revenue of $93.29 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. Equities analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.32 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th will be given a $0.50 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.7%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Bank of N.T. Butterfield & Son declared that its board has initiated a stock buyback program on Monday, February 9th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

NTB has been the topic of a number of recent research reports. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. Wells Fargo & Company raised their target price on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods raised their target price on shares of Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, February 11th. Finally, Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

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.