Tudor Investment Corp ET AL Purchases 19,327 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Tudor Investment Corp ET AL raised its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 16.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,841 shares of the bank’s stock after purchasing an additional 19,327 shares during the quarter. Tudor Investment Corp ET AL owned 0.28% of Bank of N.T. Butterfield & Son worth $5,787,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Bell Investment Advisors Inc raised its position in shares of Bank of N.T. Butterfield & Son by 284.4% during the 3rd 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 increased its stake in Bank of N.T. Butterfield & Son by 204.3% in 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 in the last quarter. Jones Financial Companies Lllp raised its holdings in Bank of N.T. Butterfield & Son by 234.1% during the third quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock valued at $42,000 after acquiring an additional 672 shares during the period. PNC Financial Services Group Inc. raised its holdings in Bank of N.T. Butterfield & Son by 3,371.0% during the third 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. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $56,000. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.4%

Shares of NTB opened at $51.56 on Wednesday. The company’s fifty day simple moving average is $51.50 and its 200-day simple moving average is $48.10. The company has a market cap of $2.16 billion, a P/E ratio of 9.41 and a beta of 0.54. Bank of N.T. Butterfield & Son Limited has a twelve month low of $34.85 and a twelve month high of $55.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, February 9th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.46 by $0.08. The company had revenue of $158.90 million for the quarter, compared to the consensus estimate of $153.49 million. Bank of N.T. Butterfield & Son had a net margin of 29.00% and a return on equity of 21.72%. During the same period in the prior year, the firm posted $1.34 EPS. Analysts predict that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son declared that its Board of Directors has approved a stock buyback plan on Monday, December 8th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, February 23rd. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 36.50%.

Analyst Ratings Changes

NTB has been the subject of several research analyst reports. Zacks Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Keefe, Bruyette & Woods upped their price target on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.