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

Amitell Capital Pte Ltd lowered its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 32.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,322 shares of the bank’s stock after selling 18,709 shares during the period. Amitell Capital Pte Ltd owned 0.08% of Bank of N.T. Butterfield & Son worth $1,645,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Strs Ohio lifted its stake in shares of Bank of N.T. Butterfield & Son by 1.6% in the 3rd quarter. Strs Ohio now owns 18,900 shares of the bank’s stock valued at $811,000 after acquiring an additional 300 shares during the last quarter. Cerity Partners LLC raised its position in Bank of N.T. Butterfield & Son by 3.2% in the second quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after purchasing an additional 457 shares during the last quarter. Seelaus Asset Management LLC raised its position in Bank of N.T. Butterfield & Son by 9.0% in the third quarter. Seelaus Asset Management LLC now owns 6,025 shares of the bank’s stock valued at $259,000 after purchasing an additional 500 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Bank of N.T. Butterfield & Son by 0.9% during the second quarter. Schroder Investment Management Group now owns 57,833 shares of the bank’s stock valued at $2,561,000 after purchasing an additional 511 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised 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 report on Wednesday, February 11th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on shares of 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. Finally, Zacks Research raised 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 assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB 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 firm’s fifty day moving average is $51.32 and its 200-day moving average is $47.27. The firm has a market cap of $2.18 billion, a P/E ratio of 9.47 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Monday, February 9th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.08. The business had revenue of $158.90 million for the quarter, compared to analyst estimates 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 in the previous year, the business earned $1.34 earnings per share. As a group, sell-side analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be given a dividend of $0.50 per share. 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 presently 36.50%.

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

About Bank of N.T. Butterfield & Son

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.