Savant Capital LLC Sells 9,846 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

Savant Capital LLC lowered its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 68.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,557 shares of the bank’s stock after selling 9,846 shares during the quarter. Savant Capital LLC’s holdings in Bank of N.T. Butterfield & Son were worth $227,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc grew its holdings in Bank of N.T. Butterfield & Son by 284.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after acquiring an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after acquiring an additional 523 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Bank of N.T. Butterfield & Son by 234.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock worth $42,000 after acquiring an additional 672 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NTB shares. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. 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 company a “market perform” rating in a research note 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 company an “equal weight” rating in a research note on Thursday, February 12th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Bank of N.T. Butterfield & Son Trading Up 0.0%

Shares of NYSE NTB opened at $57.93 on Monday. The firm has a market capitalization of $2.43 billion, a PE ratio of 10.02 and a beta of 0.51. Bank of N.T. Butterfield & Son Limited has a 1 year low of $40.59 and a 1 year high of $58.40. The firm’s 50-day moving average is $55.48 and its 200-day moving average is $52.24.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. As a group, equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 34.60%.

Bank of N.T. Butterfield & Son announced that its Board of Directors has authorized a share repurchase plan on Monday, February 9th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In other news, Director Mark T. Lynch purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the transaction, the director directly owned 234,794 shares of the company’s stock, valued at approximately $13,263,513.06. The trade was a 4.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.19% of the stock is owned by corporate insiders.

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.