Towneley Capital Management Inc DE Makes New $1.43 Million Investment in Bank of N.T. Butterfield & Son Limited (The) $NTB

Towneley Capital Management Inc DE bought a new position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 27,155 shares of the bank’s stock, valued at approximately $1,425,000. Bank of N.T. Butterfield & Son comprises approximately 0.3% of Towneley Capital Management Inc DE’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in NTB. Bell Investment Advisors Inc raised its holdings in Bank of N.T. Butterfield & Son by 284.4% in the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after purchasing an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after buying an additional 523 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of 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 valued at $46,000 after buying an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth about $56,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $67,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch bought 10,000 shares of Bank of N.T. Butterfield & Son stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $56.49 per share, with a total value of $564,900.00. Following the acquisition, the director owned 234,794 shares in the company, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael W. Collins sold 20,621 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was 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 owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This represents a 25.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,621 shares of company stock worth $3,557,496 over the last ninety days. 1.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTB. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note 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 report on Monday, April 13th. 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 note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently 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 stock opened at $60.16 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.41 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a one year low of $40.59 and a one year high of $60.35. The company’s 50-day moving average is $56.86 and its 200 day moving average is $53.46.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $155.93 million during 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 34.60%.

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.