Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 73.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,322 shares of the bank’s stock after buying an additional 41,349 shares during the quarter. Sei Investments Co. owned approximately 0.23% of Bank of N.T. Butterfield & Son worth $5,106,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NTB. EverSource Wealth Advisors LLC boosted its position in Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after acquiring an additional 523 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,045 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at $56,000. Los Angeles Capital Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $67,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $114,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. 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. Wells Fargo & Company increased their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Bank of N.T. Butterfield & Son Stock Down 0.4%

NYSE:NTB opened at $61.93 on Wednesday. The company has a market cap of $2.60 billion, a P/E ratio of 10.88 and a beta of 0.51. The firm’s 50 day moving average is $59.49 and its two-hundred day moving average is $55.43. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $40.59 and a fifty-two week high of $62.46.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $159.00 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. Research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 annualized dividend and a yield of 3.2%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 35.15%.

Insider Activity at Bank of N.T. Butterfield & Son

In other news, insider Tara Hidalgo sold 18,587 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,138,825.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew Ronald Burns sold 18,566 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,137,538.82. The SEC filing for this sale provides additional information. Insiders sold a total of 123,392 shares of company stock valued at $7,394,587 over the last three months. Insiders own 1.19% of the company’s stock.

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.