Cwm LLC Raises Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Cwm LLC lifted its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 170.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,704 shares of the bank’s stock after purchasing an additional 7,377 shares during the period. Cwm LLC’s holdings in Bank of N.T. Butterfield & Son were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at $276,000. Principal Financial Group Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 31.5% during the first quarter. Principal Financial Group Inc. now owns 25,372 shares of the bank’s stock valued at $812,000 after purchasing an additional 6,080 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Bank of N.T. Butterfield & Son by 54.3% in the first quarter. BNP Paribas Financial Markets now owns 29,859 shares of the bank’s stock worth $955,000 after purchasing an additional 10,502 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter worth about $441,000. Finally, Jennison Associates LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter worth about $977,000. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Down 1.2 %

NYSE:NTB opened at $38.73 on Monday. The company’s 50-day simple moving average is $37.12 and its 200-day simple moving average is $35.52. 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 Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $24.62 and a fifty-two week high of $40.55. The stock has a market capitalization of $1.95 billion, a P/E ratio of 8.70 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced 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. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The company had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. During the same period in the prior year, the company posted $1.14 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Bank of N.T. Butterfield & Son 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.