Bank of N.T. Butterfield & Son Ltd (NTB) Holdings Reduced by Laffer Investments

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Laffer Investments reduced its position in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,259 shares of the bank’s stock after selling 588 shares during the quarter. Laffer Investments’ holdings in Bank of N.T. Butterfield & Son were worth $447,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors acquired a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter worth approximately $22,300,000. Polar Capital LLP acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $5,015,000. Sapience Investments LLC boosted its position in Bank of N.T. Butterfield & Son by 56.8% during the 4th quarter. Sapience Investments LLC now owns 332,575 shares of the bank’s stock worth $10,426,000 after buying an additional 120,485 shares during the period. Globeflex Capital L P boosted its position in Bank of N.T. Butterfield & Son by 334.1% during the 4th quarter. Globeflex Capital L P now owns 140,680 shares of the bank’s stock worth $4,410,000 after buying an additional 108,275 shares during the period. Finally, Southpoint Capital Advisors LP boosted its position in Bank of N.T. Butterfield & Son by 6.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 1,700,000 shares of the bank’s stock worth $88,162,000 after buying an additional 100,000 shares during the period. 76.52% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. ValuEngine downgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Finally, Citigroup upgraded shares of Bank of N.T. Butterfield & Son from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $43.00 to $42.00 in a report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $50.50.

Bank of N.T. Butterfield & Son stock traded up $0.03 during mid-day trading on Monday, hitting $33.36. 83,699 shares of the stock were exchanged, compared to its average volume of 328,580. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 0.66. Bank of N.T. Butterfield & Son Ltd has a 12 month low of $29.42 and a 12 month high of $53.63. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.39 and a beta of 1.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, February 19th. The bank reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.03. Bank of N.T. Butterfield & Son had a net margin of 36.86% and a return on equity of 22.98%. The firm had revenue of $133.10 million during the quarter, compared to analyst estimates of $131.96 million. During the same quarter last year, the business earned $0.76 EPS. As a group, equities research analysts predict that Bank of N.T. Butterfield & Son Ltd will post 4 EPS for the current fiscal year.

The business also recently disclosed a dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Bank of N.T. Butterfield & Son’s previous dividend of $0.38.

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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 non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son (NYSE:NTB)

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