GSA Capital Partners LLP Takes $694,000 Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

GSA Capital Partners LLP acquired a new position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,805 shares of the bank’s stock, valued at approximately $694,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter worth $37,000. Lazard Asset Management LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter worth about $44,000. Meeder Asset Management Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter worth about $56,000. Point72 Asset Management L.P. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $63,000. Finally, Nisa Investment Advisors LLC grew its stake in Bank of N.T. Butterfield & Son by 222.0% during the 3rd 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 hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.3 %

NYSE:NTB opened at $37.77 on Monday. The company has a market capitalization of $1.90 billion, a P/E ratio of 8.41 and a beta of 1.17. The stock’s 50 day moving average price is $37.38 and its 200 day moving average price is $36.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $27.20 and a 52 week high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 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 company had revenue of $142.70 million for the quarter, compared to analyst estimates of $142.07 million. During the same quarter in the prior year, the business posted $1.16 EPS. Bank of N.T. Butterfield & Son’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a $0.44 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NTB. 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 report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.60.

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.