SG Americas Securities LLC Sells 12,244 Shares of Bank of N.T. Butterfield & Son Limited (The) $NTB

SG Americas Securities LLC trimmed its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 32.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,670 shares of the bank’s stock after selling 12,244 shares during the period. SG Americas Securities LLC’s holdings in Bank of N.T. Butterfield & Son were worth $1,102,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Rovida Advisors Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $79,413,000. Assenagon Asset Management S.A. lifted its holdings 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 valued at $10,968,000 after buying an additional 206,464 shares during the period. American Century Companies Inc. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 9.6% during 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 boosted its stake in shares of 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 worth $5,820,000 after buying an additional 107,176 shares during the last quarter. Finally, JCSD Capital LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter worth $3,489,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

NTB has been the subject of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 price objective (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Finally, Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.67.

Bank of N.T. Butterfield & Son Stock Down 0.4%

NYSE NTB opened at $50.08 on Friday. The stock’s 50-day moving average price is $48.83 and its 200-day moving average price is $46.00. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.85 and a 52 week high of $52.11. The company has a market capitalization of $2.38 billion, a P/E ratio of 9.48 and a beta of 0.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, October 28th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.21. The firm had revenue of $153.30 million for the quarter, compared to analysts’ expectations of $147.92 million. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 37.88%.

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

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.