Sei Investments Co. Raises Stock Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Sei Investments Co. lifted its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 73.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 97,322 shares of the bank’s stock after buying an additional 41,349 shares during the period. Sei Investments Co.’s holdings in Bank of N.T. Butterfield & Son were worth $5,106,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Millennium Management LLC raised its position in 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 during the period. Lord Abbett & CO. LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $9,579,000. LSV Asset Management boosted its position 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 worth $41,048,000 after buying an additional 172,666 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Bank of N.T. Butterfield & Son by 648.6% in the first quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock valued at $10,168,000 after buying an additional 167,871 shares in the last quarter. Finally, UBS Group AG grew its stake 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 buying an additional 155,784 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

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

In other Bank of N.T. Butterfield & Son news, insider Tara Hidalgo sold 18,587 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,138,825.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael W. Collins sold 20,621 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total value of $1,211,896.17. Following the transaction, the chief executive officer 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 123,392 shares of company stock worth $7,394,587 over the last ninety days. Company insiders own 1.19% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $61.93 on Wednesday. The business has a 50-day moving average of $59.49 and a 200-day moving average of $55.43. The company has a market capitalization of $2.60 billion, a PE ratio of 10.88 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $62.46.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its 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 return on equity of 22.43% and a net margin of 29.34%.The business had revenue of $159.00 million for the quarter. On average, equities analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.25 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, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 35.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NTB shares. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Finally, Wells Fargo & Company boosted their target price 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 report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.