The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund increased its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,737 shares of the bank’s stock after acquiring an additional 1,228 shares during the period. New York State Common Retirement Fund’s holdings in Bank of N.T. Butterfield & Son were worth $2,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Bank of N.T. Butterfield & Son in the third quarter valued at $384,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $919,000. Roubaix Capital LLC purchased a new position in Bank of N.T. Butterfield & Son during the third quarter worth approximately $3,080,000. Meritage Portfolio Management boosted its position in Bank of N.T. Butterfield & Son by 5.5% during the third quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock worth $220,000 after purchasing an additional 425 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Bank of N.T. Butterfield & Son by 304.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock valued at $234,000 after purchasing an additional 6,500 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.3 %

Shares of NTB opened at $35.12 on Wednesday. The firm’s fifty day moving average is $31.51 and its two-hundred day moving average is $30.26. The stock has a market cap of $1.76 billion, a PE ratio of 7.89 and a beta of 1.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $23.48 and a 52-week high of $36.00.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. During the same period in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, May 6th. This represents a $1.76 annualized dividend and a dividend yield of 5.01%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

Analyst Ratings Changes

Several research analysts have recently weighed in on NTB shares. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. The Goldman Sachs Group increased their price objective on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James reissued an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

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.