Hahn Capital Management LLC Lowers Holdings in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Hahn Capital Management LLC reduced its stake in Bank of N.T. Butterfield & Son by 10.4%, selling 10,784 shares and now holds 92,560 shares, making it the 26th largest holding for the firm.
• Bank of N.T. Butterfield & Son recently declared a quarterly dividend of $0.50 per share, an increase from the previous $0.44 dividend, resulting in a 4.4% yield.
• Analysts have provided positive ratings for the bank, with target prices increased significantly by firms like Wells Fargo and Raymond James, reflecting a consensus target price of $51.33.

Hahn Capital Management LLC cut its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,560 shares of the bank's stock after selling 10,784 shares during the period. Bank of N.T. Butterfield & Son comprises about 1.7% of Hahn Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Hahn Capital Management LLC owned approximately 0.19% of Bank of N.T. Butterfield & Son worth $3,602,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Bank of N.T. Butterfield & Son by 216.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock valued at $52,000 after acquiring an additional 921 shares during the period. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at about $72,000. Quarry LP raised its holdings in Bank of N.T. Butterfield & Son by 8.4% during the first quarter. Quarry LP now owns 3,327 shares of the bank's stock valued at $129,000 after acquiring an additional 258 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its holdings in Bank of N.T. Butterfield & Son by 164.2% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock valued at $157,000 after acquiring an additional 2,666 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Bank of N.T. Butterfield & Son during the first quarter valued at about $201,000. 62.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 target price (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their target price on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of "Moderate Buy" and an average target price of $51.33.

Bank of N.T. Butterfield & Son Stock Down 0.3%

NYSE NTB traded down $0.13 during trading hours on Monday, hitting $45.13. 166,471 shares of the company were exchanged, compared to its average volume of 178,438. The stock has a 50-day moving average price of $45.17 and a 200 day moving average price of $42.11. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.77 and a 52 week high of $46.89. The stock has a market cap of $2.14 billion, a PE ratio of 9.06 and a beta of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.The company had revenue of $146.30 million for the quarter, compared to analysts' expectations of $146.91 million. During the same period in the previous year, the firm posted $1.09 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. This is a boost from Bank of N.T. Butterfield & Son's previous quarterly dividend of $0.44. The ex-dividend date was Monday, August 11th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 40.16%.

Bank of N.T. Butterfield & Son Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.