Royce & Associates LP Decreases Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Royce & Associates LP lowered its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 459,870 shares of the bank’s stock after selling 5,805 shares during the period. Royce & Associates LP owned 0.92% of Bank of N.T. Butterfield & Son worth $16,960,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at $37,000. Lazard Asset Management LLC bought a new position in Bank of N.T. Butterfield & Son in the 1st quarter worth about $44,000. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $56,000. Point72 Asset Management L.P. bought a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter valued at about $63,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of 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 in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $37.76 on Friday. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $27.20 and a 12-month high of $40.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $37.35 and a 200-day moving average price of $36.26.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, beating 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 business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. During the same period last year, the business earned $1.16 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is 39.20%.

Analysts Set New Price Targets

Several analysts have issued reports on NTB shares. Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average price target of $39.60.

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.