Point72 DIFC Ltd Boosts Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Point72 DIFC Ltd raised its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 370.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,368 shares of the bank’s stock after buying an additional 1,077 shares during the quarter. Point72 DIFC Ltd’s holdings in Bank of N.T. Butterfield & Son were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NTB. Wedge Capital Management L L P NC grew its stake in Bank of N.T. Butterfield & Son by 1.4% during the third quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank’s stock valued at $837,000 after acquiring an additional 324 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at about $37,000. Nisa Investment Advisors LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 222.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock worth $83,000 after purchasing an additional 1,554 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Bank of N.T. Butterfield & Son by 12.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858 shares of the bank’s stock valued at $444,000 after buying an additional 1,576 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Bank of N.T. Butterfield & Son during the second quarter valued at approximately $56,000. Institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

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

Bank of N.T. Butterfield & Son Stock Down 1.6 %

Shares of NYSE NTB opened at $37.03 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $28.73 and a 1-year high of $40.55. 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 business’s 50 day moving average is $37.53 and its two-hundred day moving average is $36.59.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.06. The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.75%. 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 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.