Denali Advisors LLC Has $4.39 Million Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Denali Advisors LLC reduced its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 137,266 shares of the bank’s stock after selling 18,490 shares during the quarter. Bank of N.T. Butterfield & Son comprises about 1.3% of Denali Advisors LLC’s portfolio, making the stock its 29th biggest position. Denali Advisors LLC owned approximately 0.27% of Bank of N.T. Butterfield & Son worth $4,391,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its stake in Bank of N.T. Butterfield & Son by 18,890.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after buying an additional 1,889 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $276,000. Alps Advisors Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter worth approximately $320,000. Summit Global Investments purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $439,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 65.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 16,425 shares of the bank’s stock worth $526,000 after purchasing an additional 6,521 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NTB shares. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock traded down $0.28 during trading on Wednesday, hitting $34.76. The company’s stock had a trading volume of 54,283 shares, compared to its average volume of 205,835. The company has a market cap of $1.75 billion, a PE ratio of 7.89 and a beta of 1.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $34.35 and a 200-day moving average of $32.07. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $24.62 and a 52 week high of $36.06.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the company earned $1.24 earnings per share. Bank of N.T. Butterfield & Son’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.76 annualized dividend and a dividend yield of 5.06%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

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.