Globeflex Capital L P Purchases 25,349 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Globeflex Capital L P boosted its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,399 shares of the bank’s stock after acquiring an additional 25,349 shares during the period. Bank of N.T. Butterfield & Son accounts for about 1.0% of Globeflex Capital L P’s holdings, making the stock its 24th biggest position. Globeflex Capital L P’s holdings in Bank of N.T. Butterfield & Son were worth $6,496,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after purchasing an additional 215,397 shares in the last quarter. LSV Asset Management lifted its holdings 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 valued at $41,048,000 after purchasing an additional 172,666 shares in the last quarter. 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. Qube Research & Technologies Ltd lifted its holdings in shares of Bank of N.T. Butterfield & Son by 93.1% in the third quarter. Qube Research & Technologies Ltd now owns 312,231 shares of the bank’s stock valued at $13,401,000 after purchasing an additional 150,518 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of 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 valued at $65,140,000 after purchasing an additional 140,041 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NTB shares. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. 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. Finally, Keefe, Bruyette & Woods raised their target price on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, February 11th. One 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Buying and Selling

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch purchased 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, for a total transaction of $564,900.00. Following the completion of the acquisition, the director owned 234,794 shares of the company’s stock, valued at $13,263,513.06. The trade was a 4.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.19% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 3.6%

Shares of Bank of N.T. Butterfield & Son stock opened at $57.64 on Friday. The business’s fifty day simple moving average is $55.36 and its 200 day simple moving average is $52.15. The firm has a market capitalization of $2.42 billion, a P/E ratio of 9.97 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $58.06.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The business had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. Analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 34.60%.

Bank of N.T. Butterfield & Son announced that its Board of Directors has approved a share buyback program on Monday, February 9th that allows the company to buyback $3.00 million in outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.