Amitell Capital Pte Ltd Sells 18,709 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Amitell Capital Pte Ltd lessened its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 32.8% during the third quarter, Holdings Channel reports. The fund owned 38,322 shares of the bank’s stock after selling 18,709 shares during the quarter. Amitell Capital Pte Ltd’s holdings in Bank of N.T. Butterfield & Son were worth $1,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rovida Advisors Inc. bought a new stake in Bank of N.T. Butterfield & Son in the second quarter valued at $79,413,000. Assenagon Asset Management S.A. boosted its position in shares of Bank of N.T. Butterfield & Son by 420.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 255,544 shares of the bank’s stock worth $10,968,000 after purchasing an additional 206,464 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 9.6% in the 2nd quarter. American Century Companies Inc. now owns 1,377,664 shares of the bank’s stock valued at $61,003,000 after buying an additional 120,467 shares during the period. Acadian Asset Management LLC increased its position in Bank of N.T. Butterfield & Son by 441.0% in the 2nd quarter. Acadian Asset Management LLC now owns 131,481 shares of the bank’s stock valued at $5,820,000 after buying an additional 107,176 shares in the last quarter. Finally, JCSD Capital LLC bought a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $3,489,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Up 1.7%

Shares of Bank of N.T. Butterfield & Son stock opened at $51.89 on Thursday. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.85 and a 52 week high of $55.84. The business has a 50 day moving average price of $51.32 and a 200-day moving average price of $47.27. The company has a market cap of $2.18 billion, a PE ratio of 9.47 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results 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. The business had revenue of $158.90 million during the quarter, compared to the consensus estimate of $153.49 million. Bank of N.T. Butterfield & Son had a return on equity of 21.72% and a net margin of 29.00%.During the same quarter in the prior year, the company posted $1.34 earnings per share. As a group, research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son announced that its Board of Directors has initiated a share buyback program on Monday, December 8th that permits the company to repurchase $140.00 million in shares. This repurchase authorization permits the bank to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Bank of N.T. Butterfield & Son Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NTB. Wells Fargo & Company increased their price target on 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the company a “market perform” rating in a research 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 research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.