Hahn Capital Management LLC Has $3.44 Million Stake in Bank of N.T. Butterfield & Son Limited (The) $NTB

Hahn Capital Management LLC lowered its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 19.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,518 shares of the bank’s stock after selling 15,427 shares during the period. Bank of N.T. Butterfield & Son comprises about 2.2% of Hahn Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Hahn Capital Management LLC owned about 0.16% of Bank of N.T. Butterfield & Son worth $3,438,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of NTB. Millennium Management LLC raised its position in Bank of N.T. Butterfield & Son by 119.4% in the third quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock valued at $16,985,000 after purchasing an additional 215,397 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $9,579,000. LSV Asset Management grew its holdings in shares of Bank of N.T. Butterfield & Son by 26.5% during the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after purchasing an additional 172,666 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Bank of N.T. Butterfield & Son by 648.6% in the first quarter. Assenagon Asset Management S.A. now owns 193,754 shares of the bank’s stock valued at $10,168,000 after buying an additional 167,871 shares during the period. Finally, UBS Group AG increased its stake in shares of Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after buying an additional 155,784 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Down 0.1%

Shares of Bank of N.T. Butterfield & Son stock opened at $61.32 on Monday. The business has a 50-day moving average price of $58.20 and a two-hundred day moving average price of $54.50. Bank of N.T. Butterfield & Son Limited has a 1-year low of $40.59 and a 1-year high of $62.46. The company has a market cap of $2.57 billion, a P/E ratio of 10.61 and a beta of 0.51.

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

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son’s payout ratio is 34.60%.

Analysts Set New Price Targets

Several research firms recently commented on NTB. Weiss Ratings reiterated a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. Finally, Zacks Research downgraded 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. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.50.

Insider Buying and Selling

In related news, Director Mark T. Lynch acquired 10,000 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. The trade was a 4.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Collins sold 20,621 shares of Bank of N.T. Butterfield & Son stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the completion of the sale, the chief executive officer owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This represents a 25.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,621 shares of company stock worth $3,557,496 over the last 90 days. Company insiders own 1.19% of the company’s stock.

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.