Empowered Funds LLC Increases Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Empowered Funds LLC grew its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,779 shares of the bank’s stock after purchasing an additional 6,566 shares during the quarter. Empowered Funds LLC’s holdings in Bank of N.T. Butterfield & Son were worth $4,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NTB. Capital Performance Advisors LLP bought a new stake in Bank of N.T. Butterfield & Son during the third quarter valued at approximately $37,000. Lazard Asset Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at $44,000. Meeder Asset Management Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at $56,000. Point72 Asset Management L.P. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth $63,000. Finally, Nisa Investment Advisors LLC raised its holdings in Bank of N.T. Butterfield & Son by 222.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock worth $83,000 after purchasing an additional 1,554 shares during the period. Institutional investors own 62.73% of the company’s stock.

Analysts Set New Price Targets

NTB has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Stock Performance

NTB opened at $37.77 on Monday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 8.41 and a beta of 1.17. The company has a fifty day moving average of $37.38 and a 200 day moving average of $36.30. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $27.20 and a fifty-two week high of $40.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. The business had revenue of $142.70 million during the quarter, compared to the consensus estimate of $142.07 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.66%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.20%.

Bank of N.T. Butterfield & Son Profile

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.