The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 563,461 shares of the bank’s stock after selling 2,655 shares during the quarter. Geode Capital Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $20,780,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter worth approximately $31,906,000. Jacobs Levy Equity Management Inc. raised its position in shares of Bank of N.T. Butterfield & Son by 538.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after buying an additional 260,168 shares during the period. American Century Companies Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 31.7% in the second quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock valued at $30,782,000 after acquiring an additional 211,147 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Bank of N.T. Butterfield & Son by 93.5% in the third 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 last quarter. Finally, Victory Capital Management Inc. grew its position in Bank of N.T. Butterfield & Son by 45.6% during the second 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. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB opened at $36.84 on Friday. The firm’s fifty day simple moving average is $37.53 and its 200 day simple moving average is $36.92. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $28.73 and a twelve month high of $40.55. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.20 and a beta of 1.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The company had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.20%.

Bank of N.T. Butterfield & Son Company 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.