The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Position Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,124,633 shares of the bank’s stock after purchasing an additional 48,463 shares during the period. JPMorgan Chase & Co.’s holdings in Bank of N.T. Butterfield & Son were worth $41,476,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NTB. Bank of New York Mellon Corp increased its holdings in shares of Bank of N.T. Butterfield & Son by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,041 shares of the bank’s stock valued at $5,883,000 after acquiring an additional 4,881 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 14.1% in the 2nd quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank’s stock worth $1,017,000 after buying an additional 3,574 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $855,000. Victory Capital Management Inc. raised its stake in Bank of N.T. Butterfield & Son by 45.6% during the second quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after acquiring an additional 119,572 shares during the period. Finally, Hahn Capital Management LLC boosted its stake in Bank of N.T. Butterfield & Son by 20.2% in the second quarter. Hahn Capital Management LLC now owns 89,826 shares of the bank’s stock valued at $3,155,000 after acquiring an additional 15,075 shares during the period. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE:NTB opened at $36.72 on Monday. 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 firm’s 50 day moving average is $37.41 and its two-hundred day moving average is $37.02. The firm has a market capitalization of $1.85 billion, a P/E ratio of 8.18 and a beta of 1.16. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $28.73 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The company had revenue of $142.70 million during 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 quarter in the previous year, the firm posted $1.16 EPS. Analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.44 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 annualized dividend and a yield of 4.79%. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

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.