Bank of N.T. Butterfield & Son Limited (The) $NTB Position Cut by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 38.4% during the 1st quarter, Holdings Channel reports. The fund owned 17,226 shares of the bank’s stock after selling 10,748 shares during the quarter. SG Americas Securities LLC’s holdings in Bank of N.T. Butterfield & Son were worth $904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Bell Investment Advisors Inc increased its holdings in shares of Bank of N.T. Butterfield & Son by 284.4% during the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock valued at $26,000 after purchasing an additional 455 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares during the period. PNC Financial Services Group Inc. grew 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 buying an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $56,000. Finally, Los Angeles Capital Management LLC bought a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

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

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch bought 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 acquisition, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $1,211,896.17. Following the sale, the chief executive officer directly owned 60,622 shares of the company’s stock, valued at approximately $3,562,754.94. This represents a 25.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,621 shares of company stock worth $3,557,496 in the last ninety days. Corporate insiders own 1.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wells Fargo & Company boosted their price target 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. Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Weiss Ratings upgraded shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. One equities research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.33.

Bank of N.T. Butterfield & Son Stock Down 0.0%

Shares of NTB stock opened at $59.65 on Monday. The stock has a 50-day simple moving average of $57.23 and a 200 day simple moving average of $53.81. The stock has a market capitalization of $2.50 billion, a P/E ratio of 10.32 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $60.87.

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. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. The firm had revenue of $155.93 million for the quarter. On average, sell-side analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son’s payout ratio is currently 34.60%.

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.