Assenagon Asset Management S.A. Sells 72,580 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Assenagon Asset Management S.A. reduced its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 26.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,530 shares of the bank’s stock after selling 72,580 shares during the quarter. Assenagon Asset Management S.A. owned about 0.41% of Bank of N.T. Butterfield & Son worth $7,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 1.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank’s stock worth $837,000 after acquiring an additional 324 shares during the last quarter. Stifel Financial Corp lifted its stake in Bank of N.T. Butterfield & Son by 8.3% in the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after purchasing an additional 602 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 1.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank’s stock valued at $3,235,000 after buying an additional 971 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at approximately $37,000. Finally, Point72 DIFC Ltd raised its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% in the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after buying an additional 1,077 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Trading Up 0.4 %

Shares of NYSE:NTB opened at $37.00 on Monday. The business’s 50 day moving average is $37.17 and its 200 day moving average is $37.16. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $28.73 and a 52-week high of $40.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its 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. The company had revenue of $142.70 million for the quarter, compared to analysts’ expectations 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%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. Sell-side analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors 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 dividend on an annualized basis and a yield of 4.76%. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

Bank of N.T. Butterfield & Son Profile

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.