Rovida Advisors Inc. Invests $79.41 Million in Bank of N.T. Butterfield & Son Limited (The) $NTB

Rovida Advisors Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,793,437 shares of the bank’s stock, valued at approximately $79,413,000. Bank of N.T. Butterfield & Son comprises about 12.5% of Rovida Advisors Inc.’s investment portfolio, making the stock its 4th largest holding. Rovida Advisors Inc. owned about 3.77% of Bank of N.T. Butterfield & Son as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 9.6% during the 1st quarter. Principal Financial Group Inc. now owns 34,350 shares of the bank’s stock valued at $1,337,000 after acquiring an additional 3,008 shares during the period. Bank of New York Mellon Corp lifted its position in Bank of N.T. Butterfield & Son by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 130,408 shares of the bank’s stock valued at $4,923,000 after purchasing an additional 2,253 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 885.7% during the first quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the bank’s stock valued at $269,000 after purchasing an additional 6,200 shares during the period. Cerity Partners LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 64.7% in the first quarter. Cerity Partners LLC now owns 14,322 shares of the bank’s stock worth $557,000 after purchasing an additional 5,626 shares during the last quarter. Finally, CWM LLC grew its holdings in Bank of N.T. Butterfield & Son by 29.2% in the 1st quarter. CWM LLC now owns 15,000 shares of the bank’s stock worth $584,000 after acquiring an additional 3,388 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Up 0.6%

Bank of N.T. Butterfield & Son stock opened at $46.25 on Wednesday. The business has a 50-day simple moving average of $43.81 and a two-hundred day simple moving average of $43.84. Bank of N.T. Butterfield & Son Limited has a 52-week low of $34.77 and a 52-week high of $46.92. The company has a market cap of $2.20 billion, a P/E ratio of 8.76 and a beta of 0.68.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, October 28th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.30 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The firm had revenue of $153.30 million for the quarter, compared to the consensus estimate of $147.92 million. During the same quarter last year, the company earned $1.16 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, November 10th. Bank of N.T. Butterfield & Son’s payout ratio is presently 37.88%.

Analyst Ratings Changes

Several equities research analysts have weighed in on NTB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Zacks Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 target price (down from $54.00) on shares of Bank of N.T. Butterfield & Son in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.