Canoe Financial LP Boosts Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Canoe Financial LP raised its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1,655.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,355 shares of the bank’s stock after purchasing an additional 7,879 shares during the period. Canoe Financial LP’s holdings in Bank of N.T. Butterfield & Son were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NTB. Wedge Capital Management L L P NC lifted its stake in shares of Bank of N.T. Butterfield & Son by 1.4% during the third quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank’s stock valued at $837,000 after buying an additional 324 shares during the period. Stifel Financial Corp raised its holdings in Bank of N.T. Butterfield & Son by 8.3% in the 3rd quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock valued at $289,000 after acquiring an additional 602 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Bank of N.T. Butterfield & Son by 1.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank’s stock valued at $3,235,000 after acquiring an additional 971 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth $37,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% during the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after purchasing an additional 1,077 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Bank of N.T. Butterfield & Son Trading Up 0.4 %

NYSE:NTB opened at $37.00 on Friday. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $28.73 and a fifty-two week high of $40.55. The firm’s 50 day moving average is $37.17 and its two-hundred day moving average is $37.13. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The firm had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. On average, equities research analysts predict 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.20%.

Bank of N.T. Butterfield & Son Company Profile

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.