Russell Investments Group Ltd. Takes $1.15 Million Position in Bank of N.T. Butterfield & Son Limited (The) (NTB)

Russell Investments Group Ltd. purchased a new stake in 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 (SEC). The institutional investor purchased 33,761 shares of the bank’s stock, valued at approximately $1,151,000. Russell Investments Group Ltd. owned approximately 0.06% of Bank of N.T. Butterfield & Son Limited (The) as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 3.2% in the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock valued at $167,314,000 after buying an additional 160,828 shares in the last quarter. Southpoint Capital Advisors LP grew its position in Bank of N.T. Butterfield & Son Limited (The) by 55.2% during the 1st quarter. Southpoint Capital Advisors LP now owns 931,139 shares of the bank’s stock worth $29,713,000 after purchasing an additional 331,139 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the 1st quarter worth approximately $22,661,000. Point72 Asset Management L.P. purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the 1st quarter worth approximately $22,417,000. Finally, Citadel Advisors LLC grew its position in Bank of N.T. Butterfield & Son Limited (The) by 63.7% during the 1st quarter. Citadel Advisors LLC now owns 702,400 shares of the bank’s stock worth $22,414,000 after purchasing an additional 273,329 shares in the last quarter. 71.25% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Limited (NTB) traded up 1.65% during trading on Tuesday, reaching $33.25. 156,231 shares of the company’s stock traded hands. The company has a market cap of $1.81 billion and a P/E ratio of 21.69. Bank of N.T. Butterfield & Son Limited has a 12 month low of $23.75 and a 12 month high of $35.68. The firm’s 50 day moving average is $33.46 and its 200 day moving average is $33.32.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last posted its earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The company had revenue of $110.16 million for the quarter, compared to analyst estimates of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. Analysts anticipate that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 14th were issued a $0.32 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.28 annualized dividend and a yield of 3.91%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio (DPR) is presently 84.21%.

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Separately, Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.50.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

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