The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,124,633 shares of the bank's stock after acquiring an additional 48,463 shares during the period. JPMorgan Chase & Co. owned 2.24% of Bank of N.T. Butterfield & Son worth $41,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors 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 during the 3rd quarter worth about $37,000. Point72 DIFC Ltd lifted its stake 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 valued at $50,000 after buying an additional 1,077 shares during the period. Meeder Asset Management Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the second quarter worth approximately $56,000. Point72 Asset Management L.P. purchased 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 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 valued at $83,000 after acquiring an additional 1,554 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and lowered their price objective for the company 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 issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Trading Down 1.0 %

NTB stock traded down $0.38 during midday trading on Monday, reaching $36.34. 200,726 shares of the company's stock traded hands, compared to its average volume of 173,809. 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 fifty-two week low of $28.73 and a fifty-two week high of $40.55. The business has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $37.04. The company has a market capitalization of $1.83 billion, a P/E ratio of 8.09 and a beta of 1.16.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $142.07 million. During the same period in the prior year, the company earned $1.16 EPS. The firm's revenue was up .7% on a year-over-year basis. Equities 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 announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.84%. Bank of N.T. Butterfield & Son's payout ratio is currently 39.20%.

About Bank of N.T. Butterfield & Son

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.