Vanguard Personalized Indexing Management LLC Takes $213,000 Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Vanguard Personalized Indexing Management LLC purchased a new stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,802 shares of the bank’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NTB. USA Financial Formulas bought a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter worth approximately $27,000. AdvisorNet Financial Inc increased its holdings in Bank of N.T. Butterfield & Son by 207.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 830 shares of the bank’s stock worth $37,000 after acquiring an additional 560 shares during the period. GAMMA Investing LLC increased its holdings in Bank of N.T. Butterfield & Son by 216.7% during the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock worth $52,000 after acquiring an additional 921 shares during the period. Quarry LP increased its holdings in Bank of N.T. Butterfield & Son by 8.4% during the 1st quarter. Quarry LP now owns 3,327 shares of the bank’s stock worth $129,000 after acquiring an additional 258 shares during the period. Finally, Longboard Asset Management LP bought a new stake in Bank of N.T. Butterfield & Son during the 2nd quarter worth approximately $210,000. Institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NTB shares. Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 11th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price target (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research note on Monday, September 29th. Zacks Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Saturday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and an average target price of $50.00.

Bank of N.T. Butterfield & Son Stock Up 1.4%

NYSE:NTB opened at $42.35 on Friday. The company has a fifty day moving average of $43.70 and a 200 day moving average of $43.08. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.77 and a 52 week high of $46.89. The firm has a market capitalization of $2.01 billion, a P/E ratio of 8.50 and a beta of 0.61.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Bank of N.T. Butterfield & Son had a net margin of 27.05% and a return on equity of 21.16%. The company had revenue of $146.30 million during the quarter, compared to analyst estimates of $146.91 million. During the same period in the prior year, the business posted $1.09 EPS. As a group, analysts anticipate 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 business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. Bank of N.T. Butterfield & Son’s payout ratio is presently 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.