Sei Investments Co. Sells 514 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Sei Investments Co. reduced its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,610 shares of the bank’s stock after selling 514 shares during the quarter. Sei Investments Co.’s holdings in Bank of N.T. Butterfield & Son were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Bank of N.T. Butterfield & Son by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after acquiring an additional 51,875 shares during the last quarter. Vanguard Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after purchasing an additional 46,416 shares during the period. American Century Companies Inc. raised its position in Bank of N.T. Butterfield & Son by 31.7% during the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock valued at $30,782,000 after purchasing an additional 211,147 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 45.6% in the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after buying an additional 119,572 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Bank of N.T. Butterfield & Son by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,041 shares of the bank’s stock worth $5,883,000 after buying an additional 4,881 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

NTB has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group upped their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their target price for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

Bank of N.T. Butterfield & Son Trading Up 0.2 %

NYSE NTB opened at $36.41 on Wednesday. The firm has a market capitalization of $1.83 billion, a PE ratio of 8.20 and a beta of 1.18. The stock’s 50 day moving average is $36.76 and its 200 day moving average is $35.13. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $24.62 and a twelve month high of $40.55. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

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

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend was Monday, August 5th. Bank of N.T. Butterfield & Son’s payout ratio is 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.