Raymond James Financial Inc. Takes $219,000 Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Raymond James Financial Inc. acquired a new stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,992 shares of the bank’s stock, valued at approximately $219,000.

A number of other institutional investors have also recently made changes to their positions in NTB. Rovida Investment Management Ltd purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth $65,568,000. Norges Bank bought a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $5,700,000. American Century Companies Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 9.9% during the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock worth $41,770,000 after purchasing an additional 103,339 shares during the period. Polaris Capital Management LLC bought a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $2,039,000. Finally, Schroder Investment Management Group purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth about $2,024,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Up 2.6%

NYSE:NTB opened at $42.16 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $32.78 and a twelve month high of $42.47. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 8.93 and a beta of 0.66. The stock has a fifty day simple moving average of $38.36 and a 200-day simple moving average of $37.85. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.27. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. Bank of N.T. Butterfield & Son’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. Analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.17%. Bank of N.T. Butterfield & Son’s payout ratio is 36.51%.

Analyst Upgrades and Downgrades

NTB has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their target price on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th.

About Bank of N.T. Butterfield & Son

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.