Bank of N.T. Butterfield & Son Limited (The) $NTB Stock Holdings Lessened by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 49.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,983 shares of the bank’s stock after selling 32,626 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Bank of N.T. Butterfield & Son worth $1,639,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of NTB. Millennium Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 119.4% in the 3rd quarter. Millennium Management LLC now owns 395,731 shares of the bank’s stock worth $16,985,000 after buying an additional 215,397 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in 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 purchasing an additional 206,464 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Bank of N.T. Butterfield & Son by 93.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 312,231 shares of the bank’s stock valued at $13,401,000 after purchasing an additional 150,518 shares during the last quarter. American Century Companies Inc. lifted its position in Bank of N.T. Butterfield & Son by 10.2% in the 3rd quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock valued at $65,140,000 after purchasing an additional 140,041 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Bank of N.T. Butterfield & Son by 384.2% in the 3rd quarter. Two Sigma Investments LP now owns 132,468 shares of the bank’s stock valued at $5,686,000 after purchasing an additional 105,110 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective 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. Weiss Ratings upgraded shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Zacks Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their price objective 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 report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $55.00.

Bank of N.T. Butterfield & Son Trading Up 2.3%

Bank of N.T. Butterfield & Son stock opened at $55.65 on Thursday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 10.16 and a beta of 0.51. The company’s 50-day moving average price is $52.04 and its two-hundred day moving average price is $48.69. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.85 and a 52 week high of $56.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Monday, February 9th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.46 by $0.08. The firm had revenue of $158.90 million for the quarter, compared to analysts’ expectations of $153.49 million. Bank of N.T. Butterfield & Son had a net margin of 29.00% and a return on equity of 21.72%. During the same quarter last year, the company earned $1.34 EPS. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $2.00 annualized dividend and a yield of 3.6%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 36.50%.

Bank of N.T. Butterfield & Son declared that its Board of Directors has initiated a stock buyback program on Monday, February 9th that allows the company to repurchase $3.00 million in outstanding shares. This repurchase authorization allows the bank to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.