The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 3.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,145 shares of the bank’s stock after purchasing an additional 2,420 shares during the period. Massachusetts Financial Services Co. MA owned about 0.14% of Bank of N.T. Butterfield & Son worth $2,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTB. Charles Schwab Investment Management Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 360,900 shares of the bank’s stock worth $11,552,000 after purchasing an additional 17,046 shares during the period. Dimensional Fund Advisors LP grew its position in Bank of N.T. Butterfield & Son by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,453,670 shares of the bank’s stock valued at $46,534,000 after buying an additional 25,383 shares during the period. Principal Financial Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 13.2% in the fourth quarter. Principal Financial Group Inc. now owns 19,292 shares of the bank’s stock valued at $618,000 after buying an additional 2,254 shares in the last quarter. Norges Bank acquired a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $10,909,000. Finally, Trexquant Investment LP purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth about $903,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTB. Wells Fargo & Company lifted their price target on 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. The Goldman Sachs Group upped their target price on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.40.

Bank of N.T. Butterfield & Son Price Performance

NYSE:NTB opened at $37.52 on Monday. The firm has a market cap of $1.89 billion, a P/E ratio of 8.43 and a beta of 1.18. The stock has a 50 day moving average of $37.30 and a two-hundred day moving average of $34.62. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $24.62 and a 12 month high of $40.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 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 firm had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.75 million. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up .4% compared to the same quarter last year. On average, analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.76 annualized dividend and a yield of 4.69%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 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.