Nisa Investment Advisors LLC Increases Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Nisa Investment Advisors LLC raised its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 222.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,254 shares of the bank’s stock after buying an additional 1,554 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Bank of N.T. Butterfield & Son were worth $83,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at about $330,000. Assenagon Asset Management S.A. raised its stake in Bank of N.T. Butterfield & Son by 93.5% during the third quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock worth $10,257,000 after purchasing an additional 134,351 shares during the period. Wedge Capital Management L L P NC boosted its holdings in 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 valued at $837,000 after purchasing an additional 324 shares during the last quarter. CWM LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 170.5% in the 3rd quarter. CWM LLC now owns 11,704 shares of the bank’s stock valued at $432,000 after buying an additional 7,377 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 62.6% during the 3rd quarter. SG Americas Securities LLC now owns 19,129 shares of the bank’s stock worth $705,000 after buying an additional 7,366 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on NTB shares. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group upped their target price 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Stock Down 4.4 %

NTB opened at $37.68 on Friday. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $25.52 and a 52 week high of $40.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The business has a fifty day simple moving average of $37.35 and a 200-day simple moving average of $36.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The company had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. On average, equities analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.67%. The ex-dividend date is Tuesday, November 5th. Bank of N.T. Butterfield & Son’s payout ratio is currently 39.20%.

Bank of N.T. Butterfield & Son 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.