Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 4,572 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,743 shares of the bank’s stock after purchasing an additional 4,572 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned 0.06% of Bank of N.T. Butterfield & Son worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NTB. GAMMA Investing LLC raised its position in shares of Bank of N.T. Butterfield & Son by 12,226.1% during the 1st quarter. GAMMA Investing LLC now owns 52,386 shares of the bank’s stock valued at $2,039,000 after buying an additional 51,961 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of Bank of N.T. Butterfield & Son by 11.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 25,324 shares of the bank’s stock valued at $986,000 after buying an additional 2,680 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Bank of N.T. Butterfield & Son by 27.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 112,626 shares of the bank’s stock valued at $4,383,000 after buying an additional 24,107 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at about $350,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bank of N.T. Butterfield & Son by 10.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank’s stock valued at $376,000 after buying an additional 918 shares in 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 Performance

Shares of NYSE:NTB opened at $42.17 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of 8.47 and a beta of 0.61. The firm’s 50 day simple moving average is $44.66 and its 200-day simple moving average is $42.68. Bank of N.T. Butterfield & Son Limited has a one year low of $34.77 and a one year high of $46.89.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $146.30 million for the quarter, compared to analyst estimates of $146.91 million. Bank of N.T. Butterfield & Son had a net margin of 27.05% and a return on equity of 21.16%. During the same period last year, the company posted $1.09 earnings per share. Equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.50 per share. This is a boost from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, August 11th. Bank of N.T. Butterfield & Son’s payout ratio is 40.16%.

Analyst Upgrades and Downgrades

NTB has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Saturday, September 27th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (down from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday, September 29th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Bank of N.T. Butterfield & Son Company Profile

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.