Point72 Asia Singapore Pte. Ltd. Reduces Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Point72 Asia Singapore Pte. Ltd. reduced its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 52.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,908 shares of the bank’s stock after selling 2,101 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Bank of N.T. Butterfield & Son were worth $67,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cubist Systematic Strategies LLC increased its position in Bank of N.T. Butterfield & Son by 34.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 118,469 shares of the bank’s stock valued at $4,161,000 after acquiring an additional 30,507 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter worth $31,906,000. Denali Advisors LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 6.7% during the 2nd quarter. Denali Advisors LLC now owns 146,415 shares of the bank’s stock worth $5,142,000 after purchasing an additional 9,149 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Bank of N.T. Butterfield & Son by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after purchasing an additional 51,875 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Bank of N.T. Butterfield & Son by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 72,145 shares of the bank’s stock valued at $2,534,000 after purchasing an additional 2,420 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.6 %

Shares of NTB opened at $36.75 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $24.62 and a 1-year high of $40.55. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 8.26 and a beta of 1.18. The firm has a 50 day simple moving average of $37.07 and a 200-day simple moving average of $34.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The company had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.75 million. During the same quarter last year, the business posted $1.14 earnings per share. Bank of N.T. Butterfield & Son’s revenue was up .4% compared to the same quarter last year. Equities analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.55 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.79%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 39.55%.

Wall Street Analysts Forecast Growth

NTB has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company upped their target price on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

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.