Raymond James Financial Inc. Takes Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Raymond James Financial Inc. purchased a new stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,992 shares of the bank's stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clear Harbor Asset Management LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 2.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank's stock valued at $422,000 after buying an additional 300 shares during the period. Legal & General Group Plc lifted its holdings in shares of Bank of N.T. Butterfield & Son by 5.1% during the 4th quarter. Legal & General Group Plc now owns 7,697 shares of the bank's stock valued at $281,000 after buying an additional 374 shares during the period. R Squared Ltd bought a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at $72,000. Rhumbline Advisers lifted its holdings in shares of Bank of N.T. Butterfield & Son by 2.4% during the 4th quarter. Rhumbline Advisers now owns 93,024 shares of the bank's stock valued at $3,400,000 after buying an additional 2,156 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 31,342 shares of the bank's stock valued at $1,146,000 after buying an additional 2,459 shares during the period. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $42.16 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a one year low of $32.78 and a one year high of $42.47. The stock's fifty day moving average is $38.36 and its 200 day moving average is $37.85. The stock has a market cap of $2.00 billion, a P/E ratio of 8.93 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The business had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. During the same period last year, the firm earned $1.17 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.17%. The ex-dividend date is Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 36.51%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th.

About Bank of N.T. Butterfield & Son

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.

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