Jane Street Group LLC Raises Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Jane Street Group LLC lifted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 42.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,567 shares of the bank’s stock after buying an additional 21,430 shares during the period. Jane Street Group LLC’s holdings in Bank of N.T. Butterfield & Son were worth $2,639,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Bank of N.T. Butterfield & Son during the 3rd quarter worth $37,000. Point72 DIFC Ltd lifted its position in shares of Bank of N.T. Butterfield & Son by 370.1% during the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,077 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter worth about $56,000. Point72 Asset Management L.P. bought a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter worth about $63,000. Finally, Nisa Investment Advisors LLC increased its stake 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 valued at $83,000 after buying an additional 1,554 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $36.51 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 8.13 and a beta of 1.17. 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 firm’s 50-day simple moving average is $37.68 and its two-hundred day simple moving average is $36.79.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. 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 firm posted $1.16 EPS. Bank of N.T. Butterfield & Son’s revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.82%. 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.