New York State Common Retirement Fund reduced its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,810 shares of the bank's stock after selling 7,400 shares during the period. New York State Common Retirement Fund owned about 0.14% of Bank of N.T. Butterfield & Son worth $2,522,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of 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 valued at $52,000 after acquiring an additional 921 shares during the period. Lazard Asset Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $72,000. Quarry LP boosted its position in shares of Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after acquiring an additional 505 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position 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 valued at $157,000 after acquiring an additional 2,666 shares during the period. Finally, PDT Partners LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $217,000. 62.73% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on NTB. Keefe, Bruyette & Woods boosted their target price on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $50.00 target price (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their target price on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th.
Read Our Latest Analysis on Bank of N.T. Butterfield & Son
Bank of N.T. Butterfield & Son Stock Performance
Bank of N.T. Butterfield & Son stock opened at $45.46 on Wednesday. The stock's 50 day simple moving average is $43.75 and its two-hundred day simple moving average is $40.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 9.43 and a beta of 0.64. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $33.04 and a fifty-two week high of $46.89.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The firm had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. During the same period in the previous year, the firm posted $1.17 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were paid a $0.44 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.87%. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 36.51%.
Bank of N.T. Butterfield & Son Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding NTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report).
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