American Century Companies Inc. Boosts Holdings in Bank of N.T. Butterfield & Son Limited (The) $NTB

American Century Companies Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 10.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,517,705 shares of the bank’s stock after purchasing an additional 140,041 shares during the quarter. American Century Companies Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $65,140,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Rovida Advisors Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter worth about $79,413,000. Assenagon Asset Management S.A. lifted its holdings in Bank of N.T. Butterfield & Son by 420.7% in the third quarter. Assenagon Asset Management S.A. now owns 255,544 shares of the bank’s stock valued at $10,968,000 after acquiring an additional 206,464 shares during the period. Acadian Asset Management LLC lifted its holdings in Bank of N.T. Butterfield & Son by 441.0% in the second quarter. Acadian Asset Management LLC now owns 131,481 shares of the bank’s stock valued at $5,820,000 after acquiring an additional 107,176 shares during the period. JCSD Capital LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $3,489,000. Finally, Federated Hermes Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 121.4% during the 2nd quarter. Federated Hermes Inc. now owns 137,993 shares of the bank’s stock worth $6,110,000 after purchasing an additional 75,668 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Up 0.5%

NTB stock opened at $51.07 on Thursday. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.85 and a 52 week high of $55.84. The firm has a 50-day simple moving average of $51.35 and a 200-day simple moving average of $47.50. The stock has a market capitalization of $2.14 billion, a P/E ratio of 9.32 and a beta of 0.54.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, February 9th. The bank reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. Bank of N.T. Butterfield & Son had a net margin of 29.00% and a return on equity of 21.72%. The firm had revenue of $158.90 million for the quarter, compared to analyst estimates of $153.49 million. During the same period last year, the company posted $1.34 EPS. On average, analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.9%. Bank of N.T. Butterfield & Son’s payout ratio is currently 36.50%.

Bank of N.T. Butterfield & Son declared that its Board of Directors has authorized a share repurchase plan on Monday, December 8th that permits the company to repurchase $140.00 million in outstanding shares. This repurchase authorization permits the bank to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTB. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price objective 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 report on Wednesday, February 11th. Wells Fargo & Company upped their price objective 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 research report on Thursday, February 12th. Finally, Zacks Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus price target 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.