First Hawaiian Bank Has $751,000 Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

First Hawaiian Bank cut its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 36.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,487 shares of the bank’s stock after selling 13,252 shares during the quarter. First Hawaiian Bank’s holdings in Bank of N.T. Butterfield & Son were worth $751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFO Wealth Partners LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 18,890.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after purchasing an additional 1,889 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $276,000. Alps Advisors Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at approximately $320,000. Summit Global Investments bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $439,000. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 65.8% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 16,425 shares of the bank’s stock valued at $526,000 after purchasing an additional 6,521 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Trading Up 0.9 %

NYSE:NTB opened at $33.99 on Friday. The firm’s fifty day moving average is $33.78 and its 200-day moving average is $31.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $24.62 and a 52 week high of $36.06. The firm has a market cap of $1.71 billion, a P/E ratio of 7.64 and a beta of 1.19.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The company had revenue of $142.80 million for the quarter, compared to the consensus estimate of $137.28 million. During the same quarter in the previous year, the company earned $1.24 EPS. Bank of N.T. Butterfield & Son’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th were given a dividend of $0.44 per share. The ex-dividend date was Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.18%. Bank of N.T. Butterfield & Son’s payout ratio is presently 39.55%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus price target of $35.80.

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.