Bank of N.T. Butterfield & Son Limited (The) $NTB Stock Holdings Lifted by Empowered Funds LLC

Empowered Funds LLC grew its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,219 shares of the bank’s stock after purchasing an additional 3,158 shares during the period. Empowered Funds LLC owned about 0.34% of Bank of N.T. Butterfield & Son worth $7,183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NTB. Quarry LP grew its stake in shares of Bank of N.T. Butterfield & Son by 8.4% in the 1st quarter. Quarry LP now owns 3,327 shares of the bank’s stock valued at $129,000 after buying an additional 258 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in Bank of N.T. Butterfield & Son by 207.4% in the second quarter. AdvisorNet Financial Inc now owns 830 shares of the bank’s stock valued at $37,000 after acquiring an additional 560 shares during the last quarter. USA Financial Formulas bought a new stake in Bank of N.T. Butterfield & Son in the second quarter worth approximately $27,000. GSA Capital Partners LLP grew its position in Bank of N.T. Butterfield & Son by 4.6% in the first quarter. GSA Capital Partners LLP now owns 16,663 shares of the bank’s stock worth $649,000 after acquiring an additional 739 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Bank of N.T. Butterfield & Son by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank’s stock worth $1,027,000 after purchasing an additional 1,148 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NTB. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 price target (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research note on Monday, September 29th. Finally, Zacks Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock opened at $44.99 on Thursday. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $34.77 and a fifty-two week high of $46.92. The firm has a fifty day moving average price of $43.88 and a two-hundred day moving average price of $44.01. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 8.52 and a beta of 0.68.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, October 28th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The business had revenue of $153.30 million for the quarter, compared to analyst estimates of $147.92 million. During the same period in the previous year, the company posted $1.16 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.4%. Bank of N.T. Butterfield & Son’s payout ratio is 37.88%.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.