Franklin Resources Inc. Has $1.50 Million Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Franklin Resources Inc. reduced its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 65.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,718 shares of the bank’s stock after selling 75,947 shares during the period. Franklin Resources Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $1,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NTB. Capital Performance Advisors LLP purchased a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at $37,000. Point72 DIFC Ltd boosted its position in Bank of N.T. Butterfield & Son by 370.1% during the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after acquiring an additional 1,077 shares during the period. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $56,000. Point72 Asset Management L.P. acquired a new position in shares of Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $63,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 222.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,554 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and an average target price of $39.60.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB opened at $36.84 on Friday. The company has a 50 day moving average price of $37.53 and a two-hundred day moving average price of $36.89. 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 stock has a market capitalization of $1.85 billion, a PE ratio of 8.20 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 released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The business 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 net margin of 25.93% and a return on equity of 21.14%. Bank of N.T. Butterfield & Son’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, equities analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders 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 dividend yield of 4.78%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 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.