Mirae Asset Global Investments Co. Ltd. Purchases 1,183 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,896 shares of the bank’s stock after buying an additional 1,183 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank of N.T. Butterfield & Son were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NTB. Meritage Portfolio Management lifted its holdings in Bank of N.T. Butterfield & Son by 5.5% during the third quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock valued at $220,000 after purchasing an additional 425 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 304.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock valued at $234,000 after buying an additional 6,500 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $268,000. D L Carlson Investment Group Inc. grew its stake in Bank of N.T. Butterfield & Son by 32.4% in the 3rd quarter. D L Carlson Investment Group Inc. now owns 11,455 shares of the bank’s stock valued at $310,000 after buying an additional 2,800 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter valued at $320,000. Institutional investors own 62.73% of the company’s stock.

Analyst Upgrades and Downgrades

NTB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. The Goldman Sachs Group upped their price target on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB opened at $33.66 on Thursday. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $22.93 and a 52-week high of $33.80. The company has a fifty day moving average of $30.72 and a 200-day moving average of $29.77. The company has a market capitalization of $1.69 billion, a P/E ratio of 7.38 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21. The firm had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 24.29% and a net margin of 29.60%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 earnings per share. As a group, equities research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.12 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 5.23%. The ex-dividend date was Friday, February 23rd. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 38.60%.

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. 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.