Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Purchased by Ethic Inc.

Ethic Inc. increased its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 85.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,307 shares of the bank’s stock after purchasing an additional 38,429 shares during the period. Ethic Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $4,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Globeflex Capital L P acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $8,226,000. Lazard Asset Management LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 130.6% in the first quarter. Lazard Asset Management LLC now owns 167,051 shares of the bank’s stock valued at $8,767,000 after purchasing an additional 94,596 shares in the last quarter. Sei Investments Co. boosted its position in shares of Bank of N.T. Butterfield & Son by 73.9% during the first quarter. Sei Investments Co. now owns 97,322 shares of the bank’s stock worth $5,106,000 after buying an additional 41,349 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bank of N.T. Butterfield & Son by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock worth $83,730,000 after buying an additional 33,493 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 182.9% during the first quarter. Renaissance Technologies LLC now owns 38,000 shares of the bank’s stock worth $1,994,000 after buying an additional 24,566 shares during the period. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 2.9%

Shares of NTB opened at $56.30 on Tuesday. Bank of N.T. Butterfield & Son Limited has a 12 month low of $44.36 and a 12 month high of $64.17. The firm has a fifty day simple moving average of $58.52 and a 200 day simple moving average of $56.81. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 8.88 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, October 27th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. Bank of N.T. Butterfield & Son had a net margin of 29.21% and a return on equity of 22.45%. The business had revenue of $162.24 million during the quarter, compared to the consensus estimate of $160.90 million. During the same quarter last year, the firm earned $1.51 earnings per share. As a group, research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.30 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 34.90%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, September 29th. Wells Fargo & Company boosted their target price on Bank of N.T. Butterfield & Son from $61.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

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

In other news, CEO Michael Collins sold 75,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $62.98, for a total value of $4,723,500.00. Following the completion of the transaction, the chief executive officer owned 132,037 shares in the company, valued at $8,315,690.26. This trade represents a 36.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael McWatt sold 9,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $58.41, for a total value of $525,690.00. Following the completion of the transaction, the director owned 13,544 shares of the company’s stock, valued at $791,105.04. The trade was a 39.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 216,037 shares of company stock valued at $13,278,059. Company insiders own 1.19% of the company’s stock.

Bank of N.T. Butterfield & Son Profile

Bank of N.T. Butterfield & Son Limited is a Bermuda-based bank and wealth manager founded in 1858. It provides banking and financial services to individuals, businesses, and institutional clients.

Its services include personal and corporate banking, private banking, trust and fiduciary services, investment management, and custody services. Banking products include deposit accounts, lending, and related financial services.

Butterfield serves clients across several international markets, including Bermuda, the Cayman Islands, the Channel Islands, and the United Kingdom, with additional operations in other jurisdictions.