Assenagon Asset Management S.A. Grows Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Assenagon Asset Management S.A. lifted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 93.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,110 shares of the bank’s stock after purchasing an additional 134,351 shares during the quarter. Assenagon Asset Management S.A. owned 0.55% of Bank of N.T. Butterfield & Son worth $10,257,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in Bank of N.T. Butterfield & Son in the 1st quarter worth approximately $44,000. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son in the second quarter worth $56,000. Point72 Asset Management L.P. bought a new position in Bank of N.T. Butterfield & Son in the second quarter valued at $63,000. CWM LLC raised its position in Bank of N.T. Butterfield & Son by 1,001.0% during the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,934 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in Bank of N.T. Butterfield & Son during the second quarter worth about $138,000. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Down 3.8 %

Shares of NTB stock opened at $36.78 on Monday. The business has a 50-day moving average of $37.36 and a 200 day moving average of $35.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current 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.

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 for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 21.48% and a net margin of 25.93%. The firm had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Tuesday, November 5th. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

Wall Street Analysts Forecast Growth

NTB has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on 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 lifted their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods lowered shares of 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 report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.60.

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.