The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stock Holdings Lifted by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 82.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,447 shares of the bank’s stock after acquiring an additional 5,640 shares during the quarter. Quantbot Technologies LP’s holdings in Bank of N.T. Butterfield & Son were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NTB. Vanguard Group Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after purchasing an additional 46,416 shares during the period. Hahn Capital Management LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 20.2% in the second quarter. Hahn Capital Management LLC now owns 89,826 shares of the bank’s stock worth $3,155,000 after buying an additional 15,075 shares during the period. SG Americas Securities LLC increased its position in shares of Bank of N.T. Butterfield & Son by 62.6% in the third quarter. SG Americas Securities LLC now owns 19,129 shares of the bank’s stock worth $705,000 after acquiring an additional 7,366 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter valued at approximately $31,906,000. Finally, Principal Financial Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 14.1% in the 2nd quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank’s stock valued at $1,017,000 after acquiring an additional 3,574 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $37.38 on Wednesday. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $28.62 and a 52 week high of $40.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average price is $37.49 and its 200 day moving average price is $36.52.

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 for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $142.70 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. As a group, sell-side analysts forecast 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.44 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.71%. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

About Bank of N.T. Butterfield & Son

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.