Y Intercept Hong Kong Ltd Boosts Stock Holdings in Bank of N.T. Butterfield & Son Limited (The) $NTB

Y Intercept Hong Kong Ltd raised its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 88.7% in the first quarter, Holdings Channel.com reports. The fund owned 35,446 shares of the bank’s stock after acquiring an additional 16,664 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank of N.T. Butterfield & Son were worth $1,860,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NTB. Seelaus Asset Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 4.1% in the fourth 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 last quarter. Raymond James Financial Inc. raised 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 raised 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 raised 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, ProShare Advisors LLC lifted its holdings in Bank of N.T. Butterfield & Son by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock valued at $380,000 after purchasing an additional 492 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NTB stock opened at $60.10 on Friday. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $61.11. The firm has a market capitalization of $2.52 billion, a PE ratio of 10.40 and a beta of 0.51. The business has a 50 day simple moving average of $57.57 and a 200-day simple moving average of $54.06.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The firm had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. On average, equities research analysts expect 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 business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 34.60%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. Finally, Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and an average target price of $59.50.

Insiders Place Their Bets

In other news, Director Mark T. Lynch purchased 10,000 shares of the stock in a transaction dated Friday, May 29th. The shares were purchased at an average price of $56.49 per share, with a total value of $564,900.00. Following the transaction, the director owned 234,794 shares in the company, valued at $13,263,513.06. The trade was a 4.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Collins sold 20,621 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the completion of the sale, the chief executive officer directly owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This represents a 25.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,621 shares of company stock valued at $3,557,496 over the last ninety days. Corporate 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.