Thrivent Financial for Lutherans Boosts Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Thrivent Financial for Lutherans increased its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,165,612 shares of the bank’s stock after purchasing an additional 2,030 shares during the quarter. Thrivent Financial for Lutherans owned approximately 2.32% of Bank of N.T. Butterfield & Son worth $40,936,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $903,000. Vanguard Group Inc. lifted its stake in Bank of N.T. Butterfield & Son by 5.4% in the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after buying an additional 46,416 shares during the last quarter. Jennison Associates LLC purchased a new stake in Bank of N.T. Butterfield & Son in the first quarter valued at approximately $977,000. Hahn Capital Management LLC lifted its stake in Bank of N.T. Butterfield & Son by 20.2% in the second quarter. Hahn Capital Management LLC now owns 89,826 shares of the bank’s stock valued at $3,155,000 after buying an additional 15,075 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Bank of N.T. Butterfield & Son by 1.8% in 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 last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NTB shares. The Goldman Sachs Group boosted their target price on 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 boosted 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Bank of N.T. Butterfield & Son Trading Down 2.9 %

Shares of NTB stock opened at $37.52 on Monday. The business’s fifty day moving average price is $37.30 and its 200 day moving average price is $34.62. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $24.62 and a 1-year high of $40.55. The firm has a market capitalization of $1.89 billion, a PE ratio of 8.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $139.75 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. Bank of N.T. Butterfield & Son’s quarterly revenue was up .4% on a year-over-year basis. As a group, sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.55 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

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

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.