Thrivent Financial for Lutherans Has $43.52 Million Stake in Bank of N.T. Butterfield & Son Limited (The) $NTB

Thrivent Financial for Lutherans trimmed its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 9.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,014,000 shares of the bank’s stock after selling 104,983 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bank of N.T. Butterfield & Son were worth $43,521,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NTB. Assenagon Asset Management S.A. boosted its position in shares of Bank of N.T. Butterfield & Son by 420.7% in the third quarter. Assenagon Asset Management S.A. now owns 255,544 shares of the bank’s stock worth $10,968,000 after buying an additional 206,464 shares during the period. JCSD Capital LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter worth about $3,489,000. Y Intercept Hong Kong Ltd boosted its position in Bank of N.T. Butterfield & Son by 152.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 13,920 shares of the bank’s stock worth $616,000 after acquiring an additional 8,400 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $213,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $1,393,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Up 2.1%

NYSE NTB opened at $52.90 on Tuesday. The stock has a market capitalization of $2.46 billion, a PE ratio of 10.02 and a beta of 0.57. Bank of N.T. Butterfield & Son Limited has a 12-month low of $34.85 and a 12-month high of $53.08. The company has a 50 day moving average price of $50.05 and a two-hundred day moving average price of $46.39.

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

Analyst Ratings Changes

NTB has been the subject of several research reports. Zacks Research cut shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price 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 report on Thursday, October 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.67.

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.