Curi RMB Capital LLC Trims Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Curi RMB Capital LLC decreased its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 25.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the bank’s stock after selling 25,000 shares during the period. Curi RMB Capital LLC owned 0.15% of Bank of N.T. Butterfield & Son worth $2,766,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Bank of N.T. Butterfield & Son by 20.3% during the 3rd quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank’s stock worth $16,936,000 after buying an additional 77,334 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Bank of N.T. Butterfield & Son during the third quarter worth approximately $694,000. Capital Performance Advisors LLP acquired a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at $37,000. Summit Global Investments increased its holdings in shares of Bank of N.T. Butterfield & Son by 97.2% in the 3rd quarter. Summit Global Investments now owns 32,627 shares of the bank’s stock valued at $1,203,000 after acquiring an additional 16,079 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Bank of N.T. Butterfield & Son by 115.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 87,548 shares of the bank’s stock valued at $3,229,000 after purchasing an additional 46,942 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock opened at $37.76 on Friday. 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 company’s 50-day moving average price is $37.35 and its 200 day moving average price is $36.26. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $27.20 and a 52 week high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $142.07 million. During the same quarter in the previous year, the company earned $1.16 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis 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 currently 39.20%.

Analyst Ratings Changes

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

Bank of N.T. Butterfield & Son Company 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.