Empowered Funds LLC Has $9.47 Million Stock Holdings in Bank of N.T. Butterfield & Son Limited (The) $NTB

Empowered Funds LLC lifted its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,408 shares of the bank’s stock after purchasing an additional 8,573 shares during the period. Empowered Funds LLC owned about 0.43% of Bank of N.T. Butterfield & Son worth $9,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in 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 worth $34,000 after buying an additional 523 shares during the period. PNC Financial Services Group Inc. increased its position in Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,045 shares during the period. CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $56,000. Los Angeles Capital Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at $67,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at $114,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of 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. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB opened at $61.84 on Friday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $62.46. The company has a 50 day simple moving average of $59.16 and a two-hundred day simple moving average of $55.18. The company has a market capitalization of $2.59 billion, a PE ratio of 10.87 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The firm had revenue of $159.00 million for the quarter. Research analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend 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 35.15%.

Insiders Place Their Bets

In other news, CEO Michael W. Collins sold 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction dated 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 directly owned 60,622 shares of the company’s stock, valued at approximately $3,562,754.94. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark T. Lynch acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares in the company, valued at $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 60,621 shares of company stock worth $3,557,496 in the last ninety days. Insiders own 1.19% of the company’s stock.

Bank of N.T. Butterfield & Son Company 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.