Victory Capital Management Inc. Purchases 77,334 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Victory Capital Management Inc. increased its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 20.3% during the third quarter, Holdings Channel reports. The firm owned 459,210 shares of the bank’s stock after acquiring an additional 77,334 shares during the period. Victory Capital Management Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $16,936,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NTB. Capital Performance Advisors LLP bought a new position in shares of Bank of N.T. Butterfield & Son in the third quarter worth $37,000. Lazard Asset Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the first quarter worth $44,000. Meeder Asset Management Inc. bought a new position in Bank of N.T. Butterfield & Son in the second quarter valued at about $56,000. Point72 Asset Management L.P. bought a new position in Bank of N.T. Butterfield & Son in the second quarter valued at about $63,000. Finally, Nisa Investment Advisors LLC grew its position in 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 valued at $83,000 after acquiring an additional 1,554 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock opened at $37.46 on Wednesday. The business’s 50-day moving average price is $37.39 and its 200-day moving average price is $36.33. 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 debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The company had revenue of $142.70 million for the quarter, compared to analyst estimates of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 earnings per share. As a group, equities analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.20%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NTB. Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.