LSV Asset Management Acquires 172,666 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

LSV Asset Management lifted its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 823,925 shares of the bank’s stock after purchasing an additional 172,666 shares during the quarter. LSV Asset Management’s holdings in Bank of N.T. Butterfield & Son were worth $41,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Seelaus Asset Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 4.1% during the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after acquiring an additional 250 shares during the period. Strs Ohio boosted its stake in shares of Bank of N.T. Butterfield & Son by 1.6% during the 3rd quarter. Strs Ohio now owns 18,900 shares of the bank’s stock worth $811,000 after acquiring an additional 300 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 6,162 shares of the bank’s stock worth $264,000 after acquiring an additional 328 shares during the period. Bell Investment Advisors Inc boosted its stake 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 worth $26,000 after acquiring an additional 455 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock worth $654,000 after acquiring an additional 457 shares during the period. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTB has been the subject of several research analyst reports. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. Wells Fargo & Company boosted their price target on Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $56.09 on Monday. The business has a fifty day simple moving average of $54.34 and a 200 day simple moving average of $51.47. The company has a market capitalization of $2.35 billion, a PE ratio of 9.70 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $57.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $93.29 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. Equities analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.32 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.6%. Bank of N.T. Butterfield & Son’s payout ratio is currently 34.60%.

Bank of N.T. Butterfield & Son declared that its Board of Directors has authorized a stock buyback plan on Monday, February 9th that authorizes the company to repurchase $3.00 million in shares. This repurchase authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Bank of N.T. Butterfield & Son

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.