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Ken GriffinAdded
Citadel Advisors · Q2 2026
$5.11M
85.93K shares · 0.0% of portfolio
Bank of N.T. Butterfield & Son Ltd
Bank of N.T. Butterfield & Son Ltd (NTB) is listed on NYSE and classified in Banks - Diversified, part of the Financial Services sector. It is headquartered in Hamilton, Bermuda and has 1,299 employees. The company is worth $2.31B and trades at 10.3x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $606.79M in fiscal 2025, up 4.6% from the year before. Net income was $231.94M. The share price is 8.6% below its 52-week high of $64.17. It pays a dividend yielding 3.41%. 6 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Cliff Asness (AQR Capital Management), at $24.46M. In that quarter, 2 of them opened or added to the position and 3 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +59.2% over 5Y.
today you would have $2,074.24▲ +107.4%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 10 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $49.82 | $36.55 | $32.01 | $29.81 | $38.11 | $31.16 | $37.02 | $31.35 | $36.29 | $31.44 | |
| P/E | 9.9x | 9.1x | 7.8x | 7.0x | 6.9x | 11.7x | 10.7x | 11.2x | 9.0x | 13.1x | 26.6x |
| P/S | 3.3x |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 13.5% a year plus a 3.4% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 9.9 across this company’s own years on record.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| UPSTUpstart Holdings, Inc. | $23.85 | 47.7x | 2.9x | 0.00% | 7.94% | $2.32B |
| NWBINorthwest Bancshares, Inc. | $15.44 | 14.4x | 1.2x | 5.18% | 8.57% | $2.26B |
| MBINMerchants Bancorp | $48.77 | 9.8x | 1.2x | 0.90% | 11.73% | $2.24B |
| EFSCEnterprise Financial Services Corp |
| 3.3x |
| 2.7x |
| 2.6x |
| 2.7x |
| 3.8x |
| 3.2x |
| 3.7x |
| 3.4x |
| 4.4x |
| 4.2x |
| P/B | 1.8x | 1.7x | 1.6x | 1.5x | 1.7x | 1.9x | 1.6x | 2.0x | 2.0x | 2.4x | 2.4x |
| EPS | $5.47 | $4.71 | $4.58 | $4.29 | $3.26 | $2.90 | $3.30 | $3.50 | $2.76 | $1.18 |
| Dividend yield | 4.72% | 2.77% | 4.82% | 5.50% | 5.90% | 4.62% | 5.65% | 2.38% | 4.85% | 3.53% | 0.32% |
| Payout | 39.73% | 25.23% | 37.37% | 38.43% | 41.03% | 53.99% | 60.69% | 26.67% | 43.43% | 46.38% | 8.47% |
| Profit margin | 35.50% | 38.22% | 37.30% | 38.97% | 38.96% | 32.55% | 29.79% | 33.25% | 37.69% | 33.71% | 28.80% |
| ROE | 19.47% | 20.31% | 21.19% | 22.47% | 24.75% | 16.64% | 14.99% | 18.37% | 22.12% | 18.62% | 16.31% |
Median of the years shown; P/E years above 200x are left out.
Dividend growing 4.7% a year against a 7.0% required return, from the stock’s beta.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
5 methods answered, across 2 families.
Room for errors in the reported numbers.
+14.1% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| $61.01 |
| 12.0x |
| 1.1x |
| 2.20% |
| 9.60% |
| $2.21B |
| PURRHyperliquid Strategies Inc | $8.68 | 3.0x | 0.9x | 0.00% | 32.64% | $2.42B |
| AGMFederal Agricultural Mortgage Corp | $201.42 | 10.9x | 1.7x | 3.13% | 13.48% | $2.19B |