Redhawk Wealth Advisors Inc. Takes Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Redhawk Wealth Advisors Inc. acquired 20,724 shares of Bank of N.T. Butterfield & Son Limited valued at approximately $918,000 in the second quarter, as reported in their recent Form 13F filing.
• The bank recently increased its quarterly dividend to $0.50 per share, which represents a 4.4% dividend yield and a total annualized dividend of $2.00.
• Wall Street analysts have a consensus target price of $51.33 for the bank's stock, with ratings reflecting a "Moderate Buy" sentiment.

Redhawk Wealth Advisors Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,724 shares of the bank's stock, valued at approximately $918,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Quarry LP grew its position 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 last quarter. GSA Capital Partners LLP grew its position in Bank of N.T. Butterfield & Son by 4.6% during the first quarter. GSA Capital Partners LLP now owns 16,663 shares of the bank's stock valued at $649,000 after acquiring an additional 739 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Bank of N.T. Butterfield & Son by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock valued at $376,000 after acquiring an additional 918 shares during the last quarter. GAMMA Investing LLC grew its position 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bank of N.T. Butterfield & Son by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank's stock valued at $1,027,000 after acquiring an additional 1,148 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock traded down $0.16 on Monday, reaching $44.67. The company's stock had a trading volume of 140,881 shares, compared to its average volume of 182,833. The business has a fifty day simple moving average of $45.02 and a two-hundred day simple moving average of $42.36. Bank of N.T. Butterfield & Son Limited has a 12-month low of $34.77 and a 12-month high of $46.89. The firm has a market cap of $2.12 billion, a PE ratio of 8.97 and a beta of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $146.30 million during the quarter, compared to analyst estimates of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same quarter last year, the firm posted $1.09 earnings per share. As a group, research analysts anticipate 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 Increases Dividend

The company also recently disclosed 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 is an increase from Bank of N.T. Butterfield & Son's previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 11th. Bank of N.T. Butterfield & Son's payout ratio is 40.16%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NTB shares. Raymond James Financial restated an "outperform" rating and issued a $50.00 target price (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. Finally, Wells Fargo & Company raised their target price on shares of 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.33.

Bank of N.T. Butterfield & Son Company 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.