USA Financial Formulas Invests $27,000 in Bank of N.T. Butterfield & Son Limited (The) $NTB

USA Financial Formulas purchased a new position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 602 shares of the bank’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its position in Bank of N.T. Butterfield & Son by 10.0% during the 1st quarter. American Century Companies Inc. now owns 1,257,197 shares of the bank’s stock worth $48,930,000 after acquiring an additional 114,367 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 8.6% in the first quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank’s stock worth $38,679,000 after purchasing an additional 78,342 shares during the period. Invesco Ltd. lifted its position in shares of Bank of N.T. Butterfield & Son by 1.7% during the 1st quarter. Invesco Ltd. now owns 883,728 shares of the bank’s stock worth $34,395,000 after purchasing an additional 14,840 shares during the last quarter. LSV Asset Management lifted its position in shares of Bank of N.T. Butterfield & Son by 53.9% during the 1st quarter. LSV Asset Management now owns 534,659 shares of the bank’s stock worth $20,809,000 after purchasing an additional 187,160 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Bank of N.T. Butterfield & Son by 0.5% during the 1st quarter. Northern Trust Corp now owns 384,835 shares of the bank’s stock valued at $14,978,000 after purchasing an additional 1,829 shares during the period. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Friday, July 11th. Raymond James Financial reissued an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (down from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.00.

Bank of N.T. Butterfield & Son Trading Down 0.9%

NTB opened at $42.22 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.48 and a beta of 0.61. Bank of N.T. Butterfield & Son Limited has a 1-year low of $34.77 and a 1-year high of $46.89. The business has a 50 day moving average of $44.70 and a 200-day moving average of $42.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $146.30 million during the quarter, compared to analysts’ expectations of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same period last year, the business earned $1.09 earnings per share. Equities analysts predict that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.7%. This is an increase from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, August 11th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 40.16%.

Bank of N.T. Butterfield & Son Company Profile

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.