Harbor Capital Advisors Inc. Buys 971 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Harbor Capital Advisors Inc. raised its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,519 shares of the bank’s stock after purchasing an additional 971 shares during the period. Harbor Capital Advisors Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $3,235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NTB. Capital Performance Advisors LLP bought a new stake in Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $37,000. Point72 DIFC Ltd lifted its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after acquiring an additional 1,077 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at $56,000. Point72 Asset Management L.P. purchased a new position in Bank of N.T. Butterfield & Son in the 2nd quarter worth $63,000. Finally, Nisa Investment Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 222.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock worth $83,000 after purchasing an additional 1,554 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Down 2.9 %

NYSE NTB opened at $35.14 on Friday. The business’s 50-day moving average is $37.30 and its 200 day moving average is $37.07. The stock has a market capitalization of $1.77 billion, a PE ratio of 7.83 and a beta of 1.16. 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 1 year low of $28.73 and a 1 year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The firm had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $142.07 million. During the same period in the previous year, the firm earned $1.16 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 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, November 19th. Stockholders of record on Tuesday, November 5th were given a $0.44 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.76 annualized dividend and a dividend yield of 5.01%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 39.20%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods downgraded Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.60.

About Bank of N.T. Butterfield & Son

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.