Royce & Associates LP Acquires 50,000 Shares of Bank of N.T. Butterfield & Son Ltd (NTB)

Royce & Associates LP grew its holdings in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 18.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,226 shares of the bank’s stock after buying an additional 50,000 shares during the period. Royce & Associates LP owned 0.59% of Bank of N.T. Butterfield & Son worth $16,711,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can increased its holdings in Bank of N.T. Butterfield & Son by 3,452.5% in the 2nd quarter. Bank of Montreal Can now owns 28,100 shares of the bank’s stock worth $1,284,000 after purchasing an additional 27,309 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Bank of N.T. Butterfield & Son by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 37,402 shares of the bank’s stock worth $1,710,000 after purchasing an additional 5,123 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Bank of N.T. Butterfield & Son by 51.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,094 shares of the bank’s stock worth $2,016,000 after purchasing an additional 14,981 shares in the last quarter. Alps Advisors Inc. increased its holdings in Bank of N.T. Butterfield & Son by 37.9% in the 2nd quarter. Alps Advisors Inc. now owns 14,106 shares of the bank’s stock worth $512,000 after purchasing an additional 3,875 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its holdings in Bank of N.T. Butterfield & Son by 48.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,220 shares of the bank’s stock worth $376,000 after purchasing an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 74.61% of the company’s stock.

NTB has been the subject of a number of recent research reports. Wells Fargo & Co reaffirmed a “buy” rating and issued a $45.00 target price on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 24th. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Saturday, October 6th. Raymond James lowered their target price on Bank of N.T. Butterfield & Son from $56.00 to $49.00 and set an “outperform” rating for the company in a report on Monday, November 5th. Finally, TheStreet raised Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a report on Monday, September 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.50.

Shares of NTB stock opened at $34.93 on Wednesday. The stock has a market capitalization of $2.17 billion, a PE ratio of 12.21, a P/E/G ratio of 1.87 and a beta of 1.57. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.16. Bank of N.T. Butterfield & Son Ltd has a 1-year low of $34.71 and a 1-year high of $53.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, October 24th. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $129.55 million during the quarter, compared to analyst estimates of $132.36 million. Bank of N.T. Butterfield & Son had a net margin of 35.65% and a return on equity of 22.33%. As a group, research analysts predict that Bank of N.T. Butterfield & Son Ltd will post 3.53 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Friday, November 16th. Stockholders of record on Monday, November 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, November 2nd. Bank of N.T. Butterfield & Son’s payout ratio is 13.29%.

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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 non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son (NYSE:NTB)

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