US Bancorp DE Raises Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

US Bancorp DE increased its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2,841.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,735 shares of the bank’s stock after purchasing an additional 5,540 shares during the period. US Bancorp DE’s holdings in Bank of N.T. Butterfield & Son were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of N.T. Butterfield & Son by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after acquiring an additional 51,875 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Bank of N.T. Butterfield & Son during the 2nd quarter worth approximately $31,906,000. Vanguard Group Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock worth $28,910,000 after acquiring an additional 46,416 shares during the period. American Century Companies Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 31.7% during the second quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock valued at $30,782,000 after purchasing an additional 211,147 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 45.6% during the second quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after purchasing an additional 119,572 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE NTB opened at $37.87 on Friday. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $27.20 and a 1-year high of $40.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average price is $37.34 and its two-hundred day moving average price is $36.25.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $142.07 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.76 annualized dividend and a yield of 4.65%. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

About Bank of N.T. Butterfield & Son

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.