Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Bought by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC raised its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 272,435 shares of the bank’s stock after purchasing an additional 11,189 shares during the period. Bridgeway Capital Management LLC owned about 0.65% of Bank of N.T. Butterfield & Son worth $13,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NTB. Millennium Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after acquiring an additional 215,397 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at $9,579,000. LSV Asset Management lifted its position in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after acquiring an additional 172,666 shares in the last quarter. UBS Group AG lifted its position in shares of Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after acquiring an additional 155,784 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Bank of N.T. Butterfield & Son by 93.1% in the third quarter. Qube Research & Technologies Ltd now owns 312,231 shares of the bank’s stock valued at $13,401,000 after acquiring an additional 150,518 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael W. Collins sold 20,621 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the transaction, the chief executive officer directly owned 60,622 shares in the company, valued at approximately $3,562,754.94. This represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark T. Lynch bought 10,000 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the transaction, 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 position. The SEC filing for this purchase provides additional information. Insiders have sold 60,621 shares of company stock worth $3,557,496 over the last quarter. 1.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NTB shares. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report 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 report on Monday, April 6th. Finally, Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Bank of N.T. Butterfield & Son Trading Down 1.7%

NYSE NTB opened at $58.13 on Thursday. The business’s 50-day moving average price is $56.41 and its 200 day moving average price is $52.95. Bank of N.T. Butterfield & Son Limited has a twelve month low of $40.59 and a twelve month high of $59.36. The company has a market capitalization of $2.44 billion, a PE ratio of 10.06 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The firm had revenue of $155.93 million for the quarter. Equities analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

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.