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

Tudor Investment Corp ET AL lifted its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 16.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,841 shares of the bank’s stock after buying an additional 19,327 shares during the period. Tudor Investment Corp ET AL owned about 0.28% of Bank of N.T. Butterfield & Son worth $5,787,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Strs Ohio lifted its stake in Bank of N.T. Butterfield & Son by 1.6% in the 3rd quarter. Strs Ohio now owns 18,900 shares of the bank’s stock valued at $811,000 after purchasing an additional 300 shares during the last quarter. Raymond James Financial Inc. lifted its stake in 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 valued at $264,000 after purchasing an additional 328 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in 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 valued at $26,000 after purchasing an additional 455 shares during the last quarter. Cerity Partners LLC lifted its stake in 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 valued at $654,000 after purchasing an additional 457 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in 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 valued at $259,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

NTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of 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. Wells Fargo & Company lifted their price objective on shares of 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. Zacks Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Bank of N.T. Butterfield & Son has a consensus rating of “Buy” and a consensus price target of $55.00.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $55.65 on Thursday. The stock’s 50 day moving average price is $52.04 and its two-hundred day moving average price is $48.69. Bank of N.T. Butterfield & Son Limited has a 52-week low of $34.85 and a 52-week high of $56.09. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 10.16 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) 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 analysts’ expectations 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 firm earned $1.34 EPS. On average, equities research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, February 23rd. Bank of N.T. Butterfield & Son’s dividend payout ratio is 36.50%.

Bank of N.T. Butterfield & Son declared that its board has initiated a share buyback program on Monday, February 9th that authorizes the company to buyback $3.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Bank of N.T. Butterfield & Son Company 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.