Convergence Investment Partners LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,064 shares of the bank’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTB. Guggenheim Capital LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at $1,063,000. SG Americas Securities LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at $240,000. Meeder Asset Management Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 95.5% during the 1st quarter. Meeder Asset Management Inc. now owns 7,144 shares of the bank’s stock valued at $321,000 after acquiring an additional 3,490 shares during the period. American Century Companies Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at $4,585,000. Finally, Prudential Financial Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 12.2% during the 1st quarter. Prudential Financial Inc. now owns 158,855 shares of the bank’s stock valued at $7,130,000 after acquiring an additional 17,233 shares during the period. 72.45% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son stock opened at $53.43 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.17. Bank of N.T. Butterfield & Son Ltd has a 52 week low of $31.36 and a 52 week high of $53.63. The firm has a market cap of $2.86 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.39 and a beta of 0.54.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Bank of N.T. Butterfield & Son had a return on equity of 21.83% and a net margin of 35.22%. The company had revenue of $129.34 million during the quarter, compared to analysts’ expectations of $126.52 million. research analysts forecast that Bank of N.T. Butterfield & Son Ltd will post 3.65 EPS for the current year.

The firm also recently declared a dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, August 6th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 3rd. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 24.48%.

A number of equities analysts have recently commented on NTB shares. Wells Fargo & Co boosted their price target on Bank of N.T. Butterfield & Son from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 25th. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Friday, July 13th. Raymond James boosted their price target on Bank of N.T. Butterfield & Son from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. ValuEngine cut Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, Sandler O’Neill set a $54.00 price target on Bank of N.T. Butterfield & Son and gave the stock a “buy” rating in a report on Tuesday, April 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $52.33.

Bank of N.T. Butterfield & Son Company 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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