Cerity Partners LLC Has $557,000 Stock Holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Cerity Partners LLC grew its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 64.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,322 shares of the bank’s stock after purchasing an additional 5,626 shares during the quarter. Cerity Partners LLC’s holdings in Bank of N.T. Butterfield & Son were worth $557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 216.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock worth $52,000 after purchasing an additional 921 shares in the last quarter. Lazard Asset Management LLC bought a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $72,000. Quarry LP lifted its stake in Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank’s stock valued at $112,000 after buying an additional 505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock valued at $157,000 after buying an additional 2,666 shares during the period. Finally, PDT Partners LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $217,000. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 11th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set 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.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB opened at $44.28 on Friday. The firm’s 50 day moving average is $43.98 and its 200-day moving average is $40.27. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.10 billion, a PE ratio of 9.19 and a beta of 0.64. Bank of N.T. Butterfield & Son Limited has a 12-month low of $33.04 and a 12-month high of $46.89.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. During the same quarter last year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

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.