Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 19.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 11,568 shares of the bank’s stock after acquiring an additional 1,903 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bank of N.T. Butterfield & Son were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NTB. LSV Asset Management lifted its stake in shares of Bank of N.T. Butterfield & Son by 53.9% in the 1st quarter. LSV Asset Management now owns 534,659 shares of the bank’s stock worth $20,809,000 after acquiring an additional 187,160 shares during the period. American Century Companies Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 10.0% in 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 period. Westwood Holdings Group Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 8.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank’s stock worth $38,679,000 after acquiring an additional 78,342 shares during the period. AQR Capital Management LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 57.3% in the 1st quarter. AQR Capital Management LLC now owns 155,199 shares of the bank’s stock worth $6,040,000 after acquiring an additional 56,560 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 12,226.1% in the 1st quarter. GAMMA Investing LLC now owns 52,386 shares of the bank’s stock worth $2,039,000 after acquiring an additional 51,961 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on NTB. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price objective (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Friday, July 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research note on Monday, September 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Bank of N.T. Butterfield & Son Trading Up 0.1%

NYSE:NTB opened at $42.17 on Monday. The firm has a 50-day moving average price of $44.66 and a two-hundred day moving average price of $42.71. Bank of N.T. Butterfield & Son Limited has a twelve month low of $34.77 and a twelve month high of $46.89. The company has a market capitalization of $2.00 billion, a P/E ratio of 8.47 and a beta of 0.61.

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

Bank of N.T. Butterfield & Son Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, August 11th. Bank of N.T. Butterfield & Son’s payout ratio is presently 40.16%.

Bank of N.T. Butterfield & Son 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.