Mendon Capital Advisors Corp Has $3.51 Million Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Mendon Capital Advisors Corp cut its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 51.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,000 shares of the bank’s stock after selling 104,022 shares during the quarter. Bank of N.T. Butterfield & Son makes up approximately 3.0% of Mendon Capital Advisors Corp’s holdings, making the stock its 10th largest holding. Mendon Capital Advisors Corp owned about 0.20% of Bank of N.T. Butterfield & Son worth $3,512,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in Bank of N.T. Butterfield & Son by 13.2% in the 4th quarter. Principal Financial Group Inc. now owns 19,292 shares of the bank’s stock worth $618,000 after purchasing an additional 2,254 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at about $10,909,000. TFO Wealth Partners LLC raised its stake in Bank of N.T. Butterfield & Son by 18,890.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after buying an additional 1,889 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in Bank of N.T. Butterfield & Son by 65.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 16,425 shares of the bank’s stock worth $526,000 after buying an additional 6,521 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $276,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Down 1.9 %

Shares of NYSE:NTB opened at $36.17 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $36.95 and a two-hundred day simple moving average of $34.97. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $24.62 and a 12-month high of $40.55. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.13 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. Bank of N.T. Butterfield & Son’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. On average, research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.55 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.44 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.87%. Bank of N.T. Butterfield & Son’s payout ratio is currently 39.55%.

Analysts Set New Price Targets

NTB has been the topic of several research reports. Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and an average price target of $39.40.

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.