Bank of N.T. Butterfield & Son Limited (The) $NTB Stake Raised by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 152.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,920 shares of the bank’s stock after acquiring an additional 8,400 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank of N.T. Butterfield & Son were worth $616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NTB. GAMMA Investing LLC raised its position in Bank of N.T. Butterfield & Son by 216.7% in the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock worth $52,000 after acquiring an additional 921 shares in the last quarter. Principal Financial Group Inc. raised its position in Bank of N.T. Butterfield & Son by 9.6% in the first quarter. Principal Financial Group Inc. now owns 34,350 shares of the bank’s stock worth $1,337,000 after acquiring an additional 3,008 shares in the last quarter. Bank of New York Mellon Corp raised its position in Bank of N.T. Butterfield & Son by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 130,408 shares of the bank’s stock worth $4,923,000 after acquiring an additional 2,253 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Bank of N.T. Butterfield & Son by 885.7% in the first quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the bank’s stock worth $269,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Cerity Partners LLC raised its position in Bank of N.T. Butterfield & Son by 64.7% in the first quarter. Cerity Partners LLC now owns 14,322 shares of the bank’s stock worth $557,000 after acquiring an additional 5,626 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTB. Zacks Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their price objective on Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 price objective (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a report on Monday, September 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $46.62 on Thursday. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 8.83 and a beta of 0.68. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $34.77 and a fifty-two week high of $46.92. The business’s 50-day moving average is $43.73 and its 200-day moving average is $43.59.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, October 28th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.21. The company had revenue of $153.30 million for the quarter, compared to the consensus estimate of $147.92 million. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. Equities research analysts expect 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.00 annualized dividend and a dividend yield of 4.3%. Bank of N.T. Butterfield & Son’s payout ratio is presently 37.88%.

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.