Empowered Funds LLC Buys 8,573 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Empowered Funds LLC lifted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 5.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 180,408 shares of the bank’s stock after acquiring an additional 8,573 shares during the period. Empowered Funds LLC’s holdings in Bank of N.T. Butterfield & Son were worth $9,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Millennium Management LLC grew its holdings 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 worth $16,985,000 after purchasing an additional 215,397 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at about $9,579,000. LSV Asset Management raised its holdings in shares of Bank of N.T. Butterfield & Son by 26.5% during 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 during the period. Assenagon Asset Management S.A. boosted its position in shares of Bank of N.T. Butterfield & Son by 648.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock worth $10,168,000 after purchasing an additional 167,871 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after purchasing an additional 155,784 shares in the last quarter. 62.73% of the stock is owned by institutional investors.

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

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 price of $56.49 per share, with a total value of $564,900.00. Following the transaction, the director owned 234,794 shares in the company, valued at $13,263,513.06. The trade was a 4.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael W. Collins sold 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction dated 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 $3,562,754.94. This trade represents a 25.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,621 shares of company stock worth $3,557,496 in the last 90 days. 1.19% of the stock is currently owned by company insiders.

Bank of N.T. Butterfield & Son Trading Up 1.5%

Shares of NTB stock opened at $61.84 on Friday. The firm has a fifty day simple moving average of $59.16 and a two-hundred day simple moving average of $55.18. Bank of N.T. Butterfield & Son Limited has a 12 month low of $40.59 and a 12 month high of $62.46. The firm 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 released its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. The firm had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. On average, equities 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, August 12th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. 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. Finally, Wells Fargo & Company raised their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.50.

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.