Affinity Investment Advisors LLC Has $404,000 Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Affinity Investment Advisors LLC lowered its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 41.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,617 shares of the bank’s stock after selling 8,920 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Bank of N.T. Butterfield & Son were worth $404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NTB. Nisa Investment Advisors LLC raised its stake 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 in the last quarter. Principal Financial Group Inc. raised its stake in Bank of N.T. Butterfield & Son by 46.6% in the third quarter. Principal Financial Group Inc. now owns 17,038 shares of the bank’s stock valued at $461,000 after purchasing an additional 5,415 shares in the last quarter. New York State Common Retirement Fund grew its position in Bank of N.T. Butterfield & Son by 1.2% in the third quarter. New York State Common Retirement Fund now owns 79,509 shares of the bank’s stock valued at $2,153,000 after acquiring an additional 931 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Bank of N.T. Butterfield & Son in the third quarter valued at about $1,952,000. Finally, Charles Schwab Investment Management Inc. grew its position in Bank of N.T. Butterfield & Son by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 343,854 shares of the bank’s stock valued at $9,312,000 after acquiring an additional 22,495 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on NTB. Keefe, Bruyette & Woods decreased their target price on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Finally, Raymond James reiterated an “outperform” rating and issued a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and an average price target of $35.80.

Bank of N.T. Butterfield & Son Stock Down 1.7 %

Shares of NYSE:NTB traded down $0.59 during trading on Wednesday, reaching $34.50. 121,701 shares of the stock were exchanged, compared to its average volume of 208,535. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $24.62 and a 1-year high of $36.06. The stock has a fifty day moving average of $32.61 and a two-hundred day moving average of $30.94. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 7.89 and a beta of 1.24.

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 analysts’ consensus estimates 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 company had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the firm earned $1.24 earnings per share. Bank of N.T. Butterfield & Son’s revenue for the quarter was down 2.9% on a year-over-year basis. Research analysts anticipate 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 was paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, May 6th. This represents a $1.76 annualized dividend and a yield of 5.10%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 39.55%.

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.