Schroder Investment Management Group Buys New Shares in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Schroder Investment Management Group bought a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,324 shares of the bank’s stock, valued at approximately $2,024,000. Schroder Investment Management Group owned about 0.12% of Bank of N.T. Butterfield & Son at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd grew its position in shares of Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,077 shares during the period. R Squared Ltd acquired a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $72,000. Quarry LP grew its holdings in Bank of N.T. Butterfield & Son by 223.7% during the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after purchasing an additional 1,772 shares during the period. Raymond James Financial Inc. acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $219,000. Finally, Handelsbanken Fonder AB acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $230,000. 62.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

NTB has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a “market perform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have assigned 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 a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE NTB opened at $36.25 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 7.68 and a beta of 1.10. The stock’s fifty day moving average price is $38.36 and its two-hundred day moving average price is $37.61. The Bank of N.T. Butterfield & Son Limited has a one year low of $30.07 and a one year high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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 analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 37.29%.

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.