Savant Capital LLC trimmed its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB – Free Report) by 68.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,557 shares of the bank’s stock after selling 9,846 shares during the period. Savant Capital LLC’s holdings in Bank of N.T. Butterfield & Son were worth $227,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Bank of N.T. Butterfield & Son by 108.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,346 shares of the bank’s stock valued at $67,000 after acquiring an additional 701 shares during the period. LSV Asset Management raised its holdings in Bank of N.T. Butterfield & Son by 26.5% during the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after buying an additional 172,666 shares during the period. Handelsbanken Fonder AB raised its holdings in Bank of N.T. Butterfield & Son by 32.4% during the 4th quarter. Handelsbanken Fonder AB now owns 9,800 shares of the bank’s stock worth $488,000 after buying an additional 2,400 shares during the period. ProShare Advisors LLC raised its holdings in Bank of N.T. Butterfield & Son by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 7,628 shares of the bank’s stock worth $380,000 after buying an additional 492 shares during the period. Finally, Seelaus Asset Management LLC raised its holdings in Bank of N.T. Butterfield & Son by 4.1% during the 4th quarter. Seelaus Asset Management LLC now owns 6,275 shares of the bank’s stock worth $313,000 after buying an additional 250 shares during the period. 62.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch acquired 10,000 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the acquisition, the director directly owned 234,794 shares of the company’s stock, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.19% of the stock is owned by company insiders.
Bank of N.T. Butterfield & Son Stock Performance
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. The company had revenue of $155.93 million for the quarter. Analysts forecast 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 declared that its board has authorized a stock repurchase plan on Monday, February 9th that permits the company to repurchase $3.00 million in shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Bank of N.T. Butterfield & Son Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.50 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.5%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 34.60%.
Wall Street Analysts Forecast Growth
NTB has been the topic of several research analyst reports. Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Weiss Ratings upgraded shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. Keefe, Bruyette & Woods raised their target price on shares of 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, Wells Fargo & Company raised their target price 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 report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.
Read Our Latest Stock Analysis on Bank of N.T. Butterfield & Son
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.
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