Hotchkis & Wiley Capital Management LLC Trims Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Hotchkis & Wiley Capital Management LLC cut its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,005,850 shares of the bank’s stock after selling 4,600 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $37,096,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at $37,000. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the first quarter worth $44,000. Meeder Asset Management Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at $56,000. Point72 Asset Management L.P. bought a new stake in Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $63,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 222.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after acquiring an additional 1,554 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.60.

Bank of N.T. Butterfield & Son Trading Down 0.1 %

NYSE NTB opened at $37.90 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a one year low of $28.62 and a one year high of $40.55. The firm has a 50 day simple moving average of $37.49 and a 200-day simple moving average of $36.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. During the same quarter in the previous year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Tuesday, November 5th. 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.