JPMorgan Chase & Co. Raises Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

JPMorgan Chase & Co. grew its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,124,633 shares of the bank’s stock after acquiring an additional 48,463 shares during the period. JPMorgan Chase & Co. owned about 2.24% of Bank of N.T. Butterfield & Son worth $41,476,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Bank of N.T. Butterfield & Son during the third quarter worth $37,000. Point72 DIFC Ltd grew its holdings in Bank of N.T. Butterfield & Son by 370.1% during the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after buying an additional 1,077 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter worth $56,000. Point72 Asset Management L.P. acquired a new position in shares of Bank of N.T. Butterfield & Son in the second quarter worth $63,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 222.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after acquiring an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $44.00 to $41.00 in a report 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.60.

Bank of N.T. Butterfield & Son Price Performance

NTB stock opened at $36.72 on Monday. The stock’s fifty day simple moving average is $37.41 and its 200-day simple moving average is $37.02. 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 Bank of N.T. Butterfield & Son Limited has a 52-week low of $28.73 and a 52-week high of $40.55. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.18 and a beta of 1.16.

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 (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Equities research 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 business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.44 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.79%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 39.20%.

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.