Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 38.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,226 shares of the bank’s stock after selling 10,748 shares during the quarter. SG Americas Securities LLC’s holdings in Bank of N.T. Butterfield & Son were worth $904,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Diversified Trust Co increased its position in shares of Bank of N.T. Butterfield & Son by 132.4% in the 1st quarter. Diversified Trust Co now owns 11,130 shares of the bank’s stock worth $584,000 after purchasing an additional 6,340 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Bank of N.T. Butterfield & Son by 824.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,134 shares of the bank’s stock worth $156,000 after purchasing an additional 2,795 shares in the last quarter. Invesco Ltd. grew its stake in Bank of N.T. Butterfield & Son by 6.3% in the fourth quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock worth $51,143,000 after purchasing an additional 60,796 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Bank of N.T. Butterfield & Son by 28.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,137 shares of the bank’s stock valued at $605,000 after buying an additional 2,678 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Bank of N.T. Butterfield & Son by 10.8% in the fourth quarter. Empowered Funds LLC now owns 171,835 shares of the bank’s stock valued at $8,561,000 after buying an additional 16,789 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Michael W. Collins sold 20,621 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total value of $1,211,896.17. Following the sale, the chief executive officer owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark T. Lynch acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the acquisition, the director owned 234,794 shares in the company, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 60,621 shares of company stock worth $3,557,496 over the last quarter. 1.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on NTB shares. Wells Fargo & Company upped their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, June 8th. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Finally, Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Bank of N.T. Butterfield & Son Stock Down 0.0%

Shares of NYSE NTB opened at $59.65 on Monday. The firm’s 50-day moving average price is $57.23 and its two-hundred day moving average price is $53.81. Bank of N.T. Butterfield & Son Limited has a 52-week low of $40.59 and a 52-week high of $60.87. The stock has a market capitalization of $2.50 billion, a P/E ratio of 10.32 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. The company had revenue of $155.93 million during the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share 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 given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 34.60%.

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.