Westwood Holdings Group Inc. Purchases New Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Westwood Holdings Group Inc. acquired a new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 908,477 shares of the bank’s stock, valued at approximately $31,906,000. Westwood Holdings Group Inc. owned 1.81% of Bank of N.T. Butterfield & Son as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NTB. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the first quarter worth about $44,000. Meeder Asset Management Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the second quarter worth about $56,000. TFO Wealth Partners LLC boosted its holdings in Bank of N.T. Butterfield & Son by 18,890.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after buying an additional 1,889 shares in the last quarter. CWM LLC boosted its holdings in Bank of N.T. Butterfield & Son by 1,001.0% during the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock worth $152,000 after buying an additional 3,934 shares in the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter valued at about $138,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on NTB. The Goldman Sachs Group upped their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.40.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $37.52 on Friday. The Bank of N.T. Butterfield & Son Limited has a one year low of $24.62 and a one year high of $40.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50 day moving average price of $37.30 and a 200 day moving average price of $34.59. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 8.43 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $143.10 million during the quarter, compared to analyst estimates of $139.75 million. During the same quarter in the prior year, the business posted $1.14 earnings per share. Bank of N.T. Butterfield & Son’s revenue for the quarter was up .4% compared to the same quarter last year. Sell-side analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.55 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, August 5th. Bank of N.T. Butterfield & Son’s payout ratio is currently 39.55%.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.