Renaissance Technologies LLC Buys 24,566 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Renaissance Technologies LLC increased its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 182.9% in the first quarter, HoldingsChannel reports. The firm owned 38,000 shares of the bank’s stock after buying an additional 24,566 shares during the period. Renaissance Technologies LLC’s holdings in Bank of N.T. Butterfield & Son were worth $1,994,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NTB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Bank of N.T. Butterfield & Son by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank’s stock worth $1,027,000 after purchasing an additional 1,148 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 80.3% in the 1st quarter. Jane Street Group LLC now owns 70,537 shares of the bank’s stock valued at $2,745,000 after buying an additional 31,420 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $243,000. Invesco Ltd. grew its position in shares of Bank of N.T. Butterfield & Son by 3.8% in the 2nd quarter. Invesco Ltd. now owns 917,385 shares of the bank’s stock worth $40,622,000 after buying an additional 33,657 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of 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 worth $34,000 after buying an additional 523 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $63.45 on Wednesday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $63.81. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 11.15 and a beta of 0.51. The stock’s 50-day simple moving average is $60.06 and its 200-day simple moving average is $55.85.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 EPS for the quarter. The firm had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. As a group, equities analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 35.15%.

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

In other news, Director Michael Mcwatt sold 12,000 shares of Bank of N.T. Butterfield & Son stock in a transaction 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 sale, the director directly owned 22,544 shares in the company, valued at approximately $1,392,768.32. The trade was a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tara Hidalgo sold 18,587 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $61.27, for a total value of $1,138,825.49. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,392 shares of company stock worth $8,433,447 in the last three months. 1.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NTB. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus target price of $63.50.

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.