The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600,864 shares of the bank’s stock after buying an additional 51,875 shares during the period. Dimensional Fund Advisors LP owned approximately 3.19% of Bank of N.T. Butterfield & Son worth $56,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NTB. Norges Bank acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $10,909,000. American Century Companies Inc. grew its stake 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. grew its stake in Bank of N.T. Butterfield & Son by 45.6% during the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock valued at $13,411,000 after purchasing an additional 119,572 shares during the last quarter. Empowered Funds LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 1st quarter valued at about $2,905,000. Finally, Vanguard Group Inc. grew its stake 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 last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on NTB shares. Wells Fargo & Company boosted 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 equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $39.40.

Bank of N.T. Butterfield & Son Stock Down 0.6 %

Shares of NTB opened at $36.75 on Friday. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $24.62 and a 52 week 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. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.26 and a beta of 1.18. The stock’s 50-day moving average price is $37.07 and its 200-day moving average price is $34.80.

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

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a dividend of $0.44 per share. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.79%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 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.