Raymond James Financial Inc. Purchases New Shares in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Raymond James Financial Inc. acquired a new position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,992 shares of the bank’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 42.7% in the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after acquiring an additional 21,430 shares in the last quarter. Barclays PLC increased its holdings in Bank of N.T. Butterfield & Son by 276.9% during the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank’s stock worth $2,241,000 after purchasing an additional 44,641 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Bank of N.T. Butterfield & Son by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock worth $41,476,000 after purchasing an additional 48,463 shares during the last quarter. Handelsbanken Fonder AB acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $230,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $359,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTB. Wells Fargo & Company lifted their price target on shares of 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 boosted their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $35.73 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 7.57 and a beta of 0.82. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $30.07 and a 52 week high of $41.88. The stock has a 50 day moving average of $38.26 and a 200-day moving average of $37.53.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data 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%. As a group, 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 Dividend Announcement

The firm also recently disclosed 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 dividend yield of 4.93%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 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.