Tower Research Capital LLC TRC Grows Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Tower Research Capital LLC TRC raised its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Rating) by 274.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,972 shares of the bank’s stock after purchasing an additional 3,644 shares during the period. Tower Research Capital LLC TRC’s holdings in Bank of N.T. Butterfield & Son were worth $161,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Affinity Investment Advisors LLC purchased a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $820,000. Inspire Advisors LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at $356,000. Russell Investments Group Ltd. raised its stake in shares of Bank of N.T. Butterfield & Son by 56.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 87,876 shares of the bank’s stock valued at $2,851,000 after purchasing an additional 31,547 shares during the period. Barnett & Company Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 4.2% during the 3rd quarter. Barnett & Company Inc. now owns 24,080 shares of the bank’s stock worth $782,000 after purchasing an additional 980 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Bank of N.T. Butterfield & Son by 20.0% in the 3rd quarter. Victory Capital Management Inc. now owns 697,960 shares of the bank’s stock worth $22,656,000 after purchasing an additional 116,491 shares during the period. Institutional investors own 68.21% of the company’s stock.

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

Shares of NYSE:NTB opened at $35.22 on Thursday. The firm has a market capitalization of $1.77 billion, a PE ratio of 8.21 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $28.67 and a 52-week high of $38.31. The firm has a fifty day moving average of $33.05 and a 200 day moving average of $33.08.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The firm had revenue of $148.50 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.84 EPS. As a group, research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.82 EPS for the current fiscal 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 $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date is Friday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 41.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTB shares. The Goldman Sachs Group increased their price target on shares of Bank of N.T. Butterfield & Son from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. Wells Fargo & Company upped their price target on shares of 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. Piper Sandler dropped their price objective on Bank of N.T. Butterfield & Son from $41.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, December 20th. Finally, Raymond James boosted their target price on Bank of N.T. Butterfield & Son from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. One research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

About Bank of N.T. Butterfield & Son

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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.