The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 30.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 784,260 shares of the bank’s stock after selling 340,373 shares during the period. JPMorgan Chase & Co. owned approximately 1.65% of Bank of N.T. Butterfield & Son worth $28,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd lifted its position in Bank of N.T. Butterfield & Son by 370.1% in the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after buying an additional 1,077 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $72,000. Raymond James Financial Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $219,000. Handelsbanken Fonder AB purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $230,000. Finally, Point72 Asset Management L.P. increased its holdings in Bank of N.T. Butterfield & Son by 294.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 7,100 shares of the bank’s stock valued at $262,000 after purchasing an additional 5,300 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $35.65 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a one year low of $30.07 and a one year high of $41.88. The company has a market cap of $1.69 billion, a PE ratio of 7.55 and a beta of 0.82. The business has a 50-day simple moving average of $38.32 and a 200-day simple moving average of $37.56.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. On average, equities research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.94%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 37.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NTB shares. Keefe, Bruyette & Woods upped their price target on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

About Bank of N.T. Butterfield & Son

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, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.