Stifel Financial Corp Increases Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Stifel Financial Corp lifted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,832 shares of the bank’s stock after purchasing an additional 602 shares during the period. Stifel Financial Corp’s holdings in Bank of N.T. Butterfield & Son were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTB. Capital Performance Advisors LLP purchased a new position in Bank of N.T. Butterfield & Son in the third quarter valued at about $37,000. Point72 DIFC Ltd raised 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 purchasing an additional 1,077 shares during the period. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son in the second quarter valued at approximately $56,000. Point72 Asset Management L.P. bought a new position in Bank of N.T. Butterfield & Son during the second quarter valued at $63,000. Finally, Nisa Investment Advisors LLC increased its position in Bank of N.T. Butterfield & Son by 222.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock worth $83,000 after buying an additional 1,554 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock opened at $36.84 on Friday. The firm has a market capitalization of $1.85 billion, a P/E ratio of 8.20 and a beta of 1.17. The Bank of N.T. Butterfield & Son Limited has a one year low of $28.73 and a one year high of $40.55. 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 business has a fifty day moving average price of $37.53 and a 200-day moving average price of $36.92.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its 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 business had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. During the same quarter in the previous year, the firm earned $1.16 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.78%. The ex-dividend date was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 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.