The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stock Holdings Trimmed by State Street Corp

State Street Corp decreased its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815,775 shares of the bank’s stock after selling 9,804 shares during the quarter. State Street Corp’s holdings in Bank of N.T. Butterfield & Son were worth $30,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NTB. Wedge Capital Management L L P NC grew its holdings in shares of 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 purchasing an additional 324 shares during the last quarter. Stifel Financial Corp lifted its stake in Bank of N.T. Butterfield & Son by 8.3% in the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock valued at $289,000 after buying an additional 602 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Bank of N.T. Butterfield & Son during the third quarter worth about $37,000. Point72 DIFC Ltd increased its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after acquiring an additional 1,077 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Bank of N.T. Butterfield & Son by 222.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,554 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $36.51 on Friday. 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 firm’s 50 day moving average is $37.68 and its 200-day moving average is $36.79. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $28.73 and a 12-month high of $40.55. The stock has a market capitalization of $1.83 billion, a P/E ratio of 8.13 and a beta of 1.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The company 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 return on equity of 21.14% and a net margin of 25.93%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. Equities research 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.20%.

Analyst Ratings Changes

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

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.