Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 885.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,900 shares of the bank’s stock after buying an additional 6,200 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Bank of N.T. Butterfield & Son were worth $269,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NTB. GAMMA Investing LLC lifted its position in Bank of N.T. Butterfield & Son by 216.7% in the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock valued at $52,000 after purchasing an additional 921 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at $72,000. Quarry LP grew its stake in shares of Bank of N.T. Butterfield & Son by 19.7% during the 4th quarter. Quarry LP now owns 3,069 shares of the bank’s stock valued at $112,000 after buying an additional 505 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock valued at $157,000 after acquiring an additional 2,666 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth $217,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NYSE:NTB opened at $46.15 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of 9.57 and a beta of 0.64. Bank of N.T. Butterfield & Son Limited has a 12 month low of $33.04 and a 12 month high of $46.89. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $43.65 and its two-hundred day moving average price is $39.91.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. During the same period in the prior year, the business posted $1.17 earnings per share. Bank of N.T. Butterfield & Son’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that 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 announced a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son’s payout ratio is 36.51%.

Wall Street Analysts Forecast Growth

NTB has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th.

Bank of N.T. Butterfield & Son Profile

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.