American Century Companies Inc. Buys 140,041 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

American Century Companies Inc. grew its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,517,705 shares of the bank’s stock after acquiring an additional 140,041 shares during the quarter. American Century Companies Inc. owned about 3.19% of Bank of N.T. Butterfield & Son worth $65,140,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in shares of Bank of N.T. Butterfield & Son by 420.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 255,544 shares of the bank’s stock worth $10,968,000 after buying an additional 206,464 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Bank of N.T. Butterfield & Son by 152.2% in the second quarter. Y Intercept Hong Kong Ltd now owns 13,920 shares of the bank’s stock valued at $616,000 after acquiring an additional 8,400 shares in the last quarter. LSV Asset Management grew its holdings in Bank of N.T. Butterfield & Son by 6.9% in the third quarter. LSV Asset Management now owns 651,259 shares of the bank’s stock worth $27,952,000 after purchasing an additional 41,800 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Bank of N.T. Butterfield & Son by 33.2% during the third quarter. Federated Hermes Inc. now owns 183,768 shares of the bank’s stock worth $7,887,000 after purchasing an additional 45,775 shares in the last quarter. Finally, JCSD Capital LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the second quarter worth $3,489,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $51.07 on Thursday. The stock has a 50-day moving average of $51.35 and a two-hundred day moving average of $47.50. The stock has a market cap of $2.14 billion, a P/E ratio of 9.32 and a beta of 0.54. Bank of N.T. Butterfield & Son Limited has a one year low of $34.85 and a one year high of $55.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.08. Bank of N.T. Butterfield & Son had a return on equity of 21.72% and a net margin of 29.00%.The firm had revenue of $158.90 million during the quarter, compared to analysts’ expectations of $153.49 million. During the same period last year, the business posted $1.34 earnings per share. Analysts predict that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son announced that its board has authorized a share buyback program on Monday, December 8th that allows the company to repurchase $140.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, February 23rd. Bank of N.T. Butterfield & Son’s payout ratio is presently 36.50%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, January 22nd. Wells Fargo & Company increased their price target on 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. Keefe, Bruyette & Woods raised their price target on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

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.