Lazard Asset Management LLC Lowers Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Lazard Asset Management LLC lessened its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Rating) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,795 shares of the bank’s stock after selling 833 shares during the period. Lazard Asset Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $90,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NTB. Millennium Management LLC increased its stake in Bank of N.T. Butterfield & Son by 1,488.7% in the second quarter. Millennium Management LLC now owns 300,221 shares of the bank’s stock valued at $9,364,000 after acquiring an additional 281,324 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Bank of N.T. Butterfield & Son by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 697,960 shares of the bank’s stock valued at $22,656,000 after purchasing an additional 116,491 shares during the last quarter. RMB Capital Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $1,559,000. Polar Capital Holdings Plc lifted its position in Bank of N.T. Butterfield & Son by 24.0% in the 1st quarter. Polar Capital Holdings Plc now owns 254,235 shares of the bank’s stock worth $9,122,000 after buying an additional 49,174 shares during the last quarter. Finally, State Street Corp boosted its stake in Bank of N.T. Butterfield & Son by 5.8% in the first quarter. State Street Corp now owns 743,532 shares of the bank’s stock worth $26,678,000 after buying an additional 40,872 shares in the last quarter. Institutional investors own 68.21% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 1.7 %

NTB opened at $35.90 on Monday. The Bank of N.T. Butterfield & Son Limited has a one year low of $28.67 and a one year high of $38.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.63 and a quick ratio of 0.63. The business has a 50 day simple moving average of $32.71 and a two-hundred day simple moving average of $33.05. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.37 and a beta of 1.42.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The bank reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The company had revenue of $148.50 million during the quarter, compared to analyst estimates of $140.30 million. Bank of N.T. Butterfield & Son had a return on equity of 26.44% and a net margin of 37.09%. During the same quarter last year, the firm posted $0.84 earnings per share. Analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.82 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Monday, February 27th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Friday, February 24th. Bank of N.T. Butterfield & Son’s payout ratio is 41.03%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, December 20th. Raymond James boosted their price target on shares of Bank of N.T. Butterfield & Son from $38.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, The Goldman Sachs Group increased their target price on Bank of N.T. Butterfield & Son from $36.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Bank of N.T. Butterfield & Son Profile

(Get Rating)

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland, and the United Kingdom. The Bermuda and the Cayman Islands segment offers a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance and trust companies, and hedge funds.