Caisse DE Depot ET Placement DU Quebec Takes $1.12 Million Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired a new position in Bank of N.T. Butterfield & Son, purchasing 28,700 shares valued at approximately $1.12 million.
• Bank of N.T. Butterfield & Son recently declared an increased quarterly dividend of $0.50 per share, representing a yield of 4.4%.
• Analysts have shown positive sentiment towards the bank, with ratings including "outperform" and "overweight," and a consensus target price of $51.33 for its stock.

Caisse DE Depot ET Placement DU Quebec bought a new position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 28,700 shares of the bank's stock, valued at approximately $1,117,000. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Bank of N.T. Butterfield & Son at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NTB. GAMMA Investing LLC raised its holdings in Bank of N.T. Butterfield & Son by 216.7% in the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock worth $52,000 after purchasing an additional 921 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Bank of N.T. Butterfield & Son by 164.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock worth $157,000 after acquiring an additional 2,666 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter worth about $201,000. Finally, PDT Partners LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $217,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock traded up $0.36 during trading on Thursday, hitting $44.74. 18,982 shares of the stock were exchanged, compared to its average volume of 179,368. Bank of N.T. Butterfield & Son Limited has a 12-month low of $34.77 and a 12-month high of $46.89. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 8.98 and a beta of 0.67. The firm's 50-day moving average price is $45.24 and its 200 day moving average price is $41.75.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its earnings results on Monday, July 28th. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $146.30 million during the quarter, compared to analysts' expectations of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same quarter in the previous year, the business earned $1.09 earnings per share. As a group, research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. This is a boost from Bank of N.T. Butterfield & Son's previous quarterly dividend of $0.44. The ex-dividend date was Monday, August 11th. Bank of N.T. Butterfield & Son's payout ratio is 40.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NTB shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $50.00 price target (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.33.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.