The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stake Lessened by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 66.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,223 shares of the bank’s stock after selling 199,736 shares during the period. Millennium Management LLC owned approximately 0.20% of Bank of N.T. Butterfield & Son worth $3,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NTB. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter valued at about $44,000. Meeder Asset Management Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth $56,000. CWM LLC boosted its position in Bank of N.T. Butterfield & Son by 1,001.0% during the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,934 shares during the last quarter. Blue Trust Inc. purchased a new position in Bank of N.T. Butterfield & Son in the second quarter valued at about $138,000. Finally, EMC Capital Management increased its position in Bank of N.T. Butterfield & Son by 23.8% in the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock worth $182,000 after purchasing an additional 1,092 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTB has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price objective on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Stock Up 2.0 %

Shares of NTB stock opened at $37.34 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $1.88 billion, a P/E ratio of 8.39 and a beta of 1.18. The Bank of N.T. Butterfield & Son Limited has a one year low of $24.62 and a one year high of $40.55. The stock has a fifty day moving average price of $36.71 and a 200 day moving average price of $35.28.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The company had revenue of $143.10 million during the quarter, compared to analysts’ expectations of $139.75 million. During the same period last year, the business earned $1.14 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, August 5th. This represents a $1.76 annualized dividend and a yield of 4.71%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 39.55%.

Bank of N.T. Butterfield & Son Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company’s lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.