Bank of N.T. Butterfield & Son Limited (The) $NTB Position Lifted by Cwm LLC

Cwm LLC raised its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 57.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 28,803 shares of the bank’s stock after acquiring an additional 10,500 shares during the period. Cwm LLC’s holdings in Bank of N.T. Butterfield & Son were worth $1,236,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NTB. Canoe Financial LP grew its stake in Bank of N.T. Butterfield & Son by 34.8% in the third quarter. Canoe Financial LP now owns 67,758 shares of the bank’s stock worth $2,908,000 after purchasing an additional 17,483 shares in the last quarter. USA Financial Formulas lifted its holdings in Bank of N.T. Butterfield & Son by 196.3% during the 3rd quarter. USA Financial Formulas now owns 1,784 shares of the bank’s stock worth $77,000 after buying an additional 1,182 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 5.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 21,909 shares of the bank’s stock worth $940,000 after acquiring an additional 1,185 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings 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 valued at $10,968,000 after acquiring an additional 206,464 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Bank of N.T. Butterfield & Son by 397.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,703 shares of the bank’s stock valued at $297,000 after acquiring an additional 5,355 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NTB. 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, December 29th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Hold” and a consensus target price of $50.67.

Bank of N.T. Butterfield & Son Trading Up 1.2%

NYSE NTB opened at $50.27 on Tuesday. The company has a 50-day moving average price of $47.99 and a two-hundred day moving average price of $45.64. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.77 and a 52 week high of $52.11. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 9.52 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, October 28th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The business had revenue of $153.30 million during the quarter, compared to the consensus estimate of $147.92 million. During the same period in the previous year, the firm posted $1.16 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son declared that its board has approved a stock buyback plan on Monday, December 8th that authorizes the company to buyback $140.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, November 10th. Bank of N.T. Butterfield & Son’s payout ratio is 37.88%.

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.