BNP Paribas Financial Markets Cuts Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

BNP Paribas Financial Markets lessened its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 45.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,280 shares of the bank’s stock after selling 13,316 shares during the period. BNP Paribas Financial Markets’ holdings in Bank of N.T. Butterfield & Son were worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NTB. Capital Performance Advisors LLP purchased a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth about $37,000. Meeder Asset Management Inc. bought a new position in Bank of N.T. Butterfield & Son during the second quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new stake in Bank of N.T. Butterfield & Son in the second quarter worth approximately $63,000. Nisa Investment Advisors LLC grew its position in Bank of N.T. Butterfield & Son by 222.0% in the 3rd 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 period. Finally, CWM LLC raised its stake in Bank of N.T. Butterfield & Son by 1,001.0% during the 2nd quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after buying an additional 3,934 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Trading Down 0.8 %

Shares of NYSE:NTB opened at $37.46 on Friday. The business’s 50-day moving average is $37.60 and its 200 day moving average is $36.62. 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 Bank of N.T. Butterfield & Son Limited has a 1 year low of $28.73 and a 1 year high of $40.55. The firm has a market capitalization of $1.88 billion, a P/E ratio of 8.35 and a beta of 1.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data 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 business had revenue of $142.70 million for the quarter, compared to analyst estimates of $142.07 million. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 earnings per share. On average, research analysts predict 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.44 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.70%. Bank of N.T. Butterfield & Son’s payout ratio is 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.