Bank of America Corp DE Raises Stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Bank of America Corp DE boosted its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 42.2% during the first quarter, Holdings Channel reports. The firm owned 100,402 shares of the bank’s stock after buying an additional 29,807 shares during the period. Bank of America Corp DE’s holdings in Bank of N.T. Butterfield & Son Limited (The) were worth $3,204,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in Bank of N.T. Butterfield & Son Limited (The) by 3.2% in the first quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock worth $167,314,000 after buying an additional 160,828 shares during the period. State Street Corp purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter worth approximately $5,069,000. Nationwide Fund Advisors increased its position in Bank of N.T. Butterfield & Son Limited (The) by 349.8% in the first quarter. Nationwide Fund Advisors now owns 22,601 shares of the bank’s stock worth $721,000 after buying an additional 17,576 shares during the period. Prudential Financial Inc. purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth approximately $1,748,000. Finally, Stifel Financial Corp purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth approximately $3,190,000. Institutional investors own 65.16% of the company’s stock.

Bank of N.T. Butterfield & Son Limited (NTB) traded down 0.20% during trading on Monday, hitting $34.52. The stock had a trading volume of 11,876 shares. The firm’s 50 day moving average is $34.39 and its 200 day moving average is $33.27. Bank of N.T. Butterfield & Son Limited has a 1-year low of $23.75 and a 1-year high of $35.68. The firm has a market cap of $1.88 billion and a price-to-earnings ratio of 22.52.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. The firm had revenue of $110.16 million during the quarter, compared to analysts’ expectations of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. On average, analysts anticipate that Bank of N.T. Butterfield & Son Limited will post $2.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.28 dividend on an annualized basis and a yield of 3.70%. Bank of N.T. Butterfield & Son Limited (The)’s payout ratio is 84.21%.

Separately, Zacks Investment Research upgraded Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, April 18th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $31.75.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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