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

Tudor Investment Corp ET AL lifted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 16.7% during the third quarter, Holdings Channel.com reports. The firm owned 134,841 shares of the bank’s stock after acquiring an additional 19,327 shares during the period. Tudor Investment Corp ET AL’s holdings in Bank of N.T. Butterfield & Son were worth $5,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strs Ohio boosted its position 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 purchasing an additional 300 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 5.6% in 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 last quarter. Bell Investment Advisors Inc raised its holdings in shares of Bank of N.T. Butterfield & Son by 284.4% in 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 last quarter. Cerity Partners LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 3.2% in 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 last quarter. Finally, Seelaus Asset Management LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 9.0% in the 3rd quarter. Seelaus Asset Management LLC now owns 6,025 shares of the bank’s stock worth $259,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $55.65 on Thursday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $34.85 and a fifty-two week high of $56.09. The firm has a market capitalization of $2.33 billion, a PE ratio of 10.16 and a beta of 0.51. The company’s 50-day moving average is $52.04 and its 200 day moving average is $48.69.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 9th. The bank reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08. The company had revenue of $158.90 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $1.34 EPS. As a group, analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were paid a $0.50 dividend. The ex-dividend date was Monday, February 23rd. This represents a $2.00 annualized dividend and a yield of 3.6%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 36.50%.

Bank of N.T. Butterfield & Son announced that its board has approved a stock buyback plan on Monday, February 9th that permits the company to repurchase $3.00 million in shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NTB shares. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $50.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Zacks Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings upgraded shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $55.00.

Bank of N.T. Butterfield & Son 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.