Point72 Asset Management L.P. Boosts Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Point72 Asset Management L.P. raised its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 294.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,100 shares of the bank’s stock after acquiring an additional 5,300 shares during the period. Point72 Asset Management L.P.’s holdings in Bank of N.T. Butterfield & Son were worth $262,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NTB. Capital Performance Advisors LLP purchased a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $37,000. Meeder Asset Management Inc. bought a new position in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth $56,000. Nisa Investment Advisors LLC raised its position in shares of Bank of N.T. Butterfield & Son by 222.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after buying an additional 1,554 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the 2nd quarter worth $138,000. Finally, CWM LLC grew its position in Bank of N.T. Butterfield & Son by 1,001.0% in the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock worth $152,000 after acquiring an additional 3,934 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB opened at $37.46 on Friday. The company has a 50-day simple moving average of $37.60 and a two-hundred day simple moving average of $36.62. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $28.73 and a 12-month high of $40.55. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 8.34 and a beta of 1.17. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share (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 period last year, the company earned $1.16 EPS. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.76 annualized dividend and a yield of 4.70%. Bank of N.T. Butterfield & Son’s payout ratio is currently 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.