Bank of N.T. Butterfield & Son Stake Decreased by LSV Asset Management

LSV Asset Management, a prominent hedge fund, has decreased its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.8% during the first quarter, according to its recent disclosure with the Securities & Exchange Commission. The fund sold 7,500 shares, bringing its total ownership to 122,900 shares valued at $3,932,000.

Other hedge funds have also been active in trading Bank of N.T. Butterfield & Son stock. Trexquant Investment LP purchased a new position worth $903,000, while Vaughan Nelson Investment Management L.P. increased its holdings by 66.7% to 666,029 shares. Jennison Associates LLC and Dimensional Fund Advisors LP also acquired new positions, with Allspring Global Investments Holdings LLC boosting its stake by 4.1%.

The trading activity has had a positive impact on Bank of N.T. Butterfield & Son’s stock price, which is currently trading up 2.0% on the NYSE. The company recently reported quarterly earnings that exceeded analysts’ expectations, with a return on equity of 23.18% and a net margin of 27.95%.

In addition, Bank of N.T. Butterfield & Son announced a quarterly dividend, with investors receiving a $0.44 dividend. Analysts have responded positively to the company’s performance, with several firms increasing their price targets and issuing buy ratings.

Overall, Bank of N.T. Butterfield & Son continues to attract interest from investors and analysts alike, with a strong financial performance and positive outlook for the future.