Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Rating) traded down 4.5% on Tuesday after Piper Sandler lowered their price target on the stock from $41.00 to $36.00. The company traded as low as $29.75 and last traded at $29.75. 3,196 shares traded hands during trading, a decline of 98% from the average session volume of 141,360 shares. The stock had previously closed at $31.15.
Separately, StockNews.com assumed coverage on Bank of N.T. Butterfield & Son in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.
Institutional Trading of Bank of N.T. Butterfield & Son
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Grandeur Peak Global Advisors LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 9.1% in the first quarter. Grandeur Peak Global Advisors LLC now owns 2,585,072 shares of the bank’s stock valued at $92,752,000 after acquiring an additional 214,939 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Bank of N.T. Butterfield & Son by 0.7% in the second quarter. Macquarie Group Ltd. now owns 1,614,113 shares of the bank’s stock valued at $50,344,000 after acquiring an additional 10,974 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Bank of N.T. Butterfield & Son by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 986,358 shares of the bank’s stock valued at $35,392,000 after acquiring an additional 6,178 shares in the last quarter. Royce & Associates LP lifted its position in shares of Bank of N.T. Butterfield & Son by 12.7% in the second quarter. Royce & Associates LP now owns 969,307 shares of the bank’s stock valued at $30,233,000 after acquiring an additional 109,251 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Bank of N.T. Butterfield & Son by 6.6% in the third quarter. Thrivent Financial for Lutherans now owns 897,215 shares of the bank’s stock valued at $29,123,000 after acquiring an additional 55,713 shares in the last quarter.
Bank of N.T. Butterfield & Son Price Performance
The company has a debt-to-equity ratio of 0.23, a current ratio of 0.61 and a quick ratio of 0.61. The company has a 50-day moving average price of $33.50 and a 200-day moving average price of $32.96. The firm has a market capitalization of $1.50 billion, a PE ratio of 8.05 and a beta of 1.39.
Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last released its earnings results on Monday, October 31st. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.05. Bank of N.T. Butterfield & Son had a return on equity of 23.02% and a net margin of 34.72%. The firm had revenue of $141.07 million for the quarter, compared to the consensus estimate of $140.45 million. Sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.25 EPS for the current year.
Bank of N.T. Butterfield & Son Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, November 28th. Investors of record on Monday, November 14th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, November 10th. This represents a $1.76 annualized dividend and a yield of 5.91%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 45.48%.
About Bank of N.T. Butterfield & Son
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, as well as certificate of deposits.