Handelsbanken Fonder AB Has $275,000 Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Handelsbanken Fonder AB reduced its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 21.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,600 shares of the bank’s stock after selling 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Bank of N.T. Butterfield & Son were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Meritage Portfolio Management grew its stake in Bank of N.T. Butterfield & Son by 5.5% in the third quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock valued at $220,000 after purchasing an additional 425 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Bank of N.T. Butterfield & Son by 304.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock worth $234,000 after buying an additional 6,500 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Bank of N.T. Butterfield & Son during the third quarter valued at approximately $268,000. D L Carlson Investment Group Inc. lifted its stake in Bank of N.T. Butterfield & Son by 32.4% in the third quarter. D L Carlson Investment Group Inc. now owns 11,455 shares of the bank’s stock valued at $310,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in Bank of N.T. Butterfield & Son in the third quarter worth approximately $320,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Up 2.2 %

NTB opened at $35.15 on Friday. The business has a 50 day moving average price of $31.19 and a 200 day moving average price of $30.05. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $22.93 and a twelve month high of $35.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $1.77 billion, a P/E ratio of 7.90 and a beta of 1.24.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21. The business had revenue of $142.80 million for the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. Bank of N.T. Butterfield & Son’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 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, May 21st. Investors of record on Tuesday, May 7th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Wall Street Analysts Forecast Growth

NTB has been the subject of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. The Goldman Sachs Group upped their price target on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Raymond James restated an “outperform” rating and issued a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reduced their target price on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

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.