Clear Harbor Asset Management LLC Increases Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Clear Harbor Asset Management LLC grew its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,540 shares of the bank’s stock after purchasing an additional 300 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $422,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Jane Street Group LLC boosted its position in Bank of N.T. Butterfield & Son by 42.7% during the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after acquiring an additional 21,430 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 62.6% during the 3rd quarter. SG Americas Securities LLC now owns 19,129 shares of the bank’s stock worth $705,000 after purchasing an additional 7,366 shares during the last quarter. Barclays PLC grew its position in shares of Bank of N.T. Butterfield & Son by 276.9% in the third quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after purchasing an additional 44,641 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Bank of N.T. Butterfield & Son by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock valued at $41,476,000 after purchasing an additional 48,463 shares in the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter valued at approximately $556,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.60.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $37.02 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 8.24 and a beta of 1.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $37.14 and a 200-day simple moving average of $37.18. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $28.73 and a 1-year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The company had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.20%.

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.