The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 45.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,280 shares of the bank’s stock after selling 13,316 shares during the quarter. BNP Paribas Financial Markets’ holdings in Bank of N.T. Butterfield & Son were worth $600,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NTB. Westwood Holdings Group Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter worth $31,906,000. American Century Companies Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son by 31.7% during the second quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock worth $30,782,000 after buying an additional 211,147 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Bank of N.T. Butterfield & Son by 93.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after acquiring an additional 134,351 shares during the period. Victory Capital Management Inc. increased its position in Bank of N.T. Butterfield & Son by 45.6% in the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock valued at $13,411,000 after acquiring an additional 119,572 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Bank of N.T. Butterfield & Son by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after acquiring an additional 51,875 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Bank of N.T. Butterfield & Son Trading Down 0.8 %

NTB stock opened at $37.46 on Friday. 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 has a market cap of $1.88 billion, a price-to-earnings ratio of 8.35 and a beta of 1.17. The business has a fifty day simple moving average of $37.60 and a 200-day simple moving average of $36.62. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $28.73 and a 52 week high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $142.70 million during the quarter, compared to analyst estimates 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%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. On average, equities research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current 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 given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend 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.