Victory Capital Management Inc. Increases Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Victory Capital Management Inc. increased its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 45.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 381,876 shares of the bank’s stock after acquiring an additional 119,572 shares during the quarter. Victory Capital Management Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $13,411,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NTB. Dimensional Fund Advisors LP grew its holdings in Bank of N.T. Butterfield & Son by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,453,670 shares of the bank’s stock worth $46,534,000 after acquiring an additional 25,383 shares in the last quarter. Vanguard Group Inc. increased its holdings 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. Charles Schwab Investment Management Inc. increased its holdings in Bank of N.T. Butterfield & Son by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 360,900 shares of the bank’s stock valued at $11,552,000 after buying an additional 17,046 shares during the last quarter. Norges Bank acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $10,909,000. Finally, Bank of New York Mellon Corp lifted its holdings in Bank of N.T. Butterfield & Son by 2.9% during 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. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

NTB has been the subject of a number of research analyst reports. Wells Fargo & Company upped 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 report on Friday, July 26th. The Goldman Sachs Group increased their target price 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $37.46 on Friday. 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 debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average price of $37.10 and a 200 day moving average price of $34.28.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The business 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 company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts anticipate 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a $0.44 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.70%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

About Bank of N.T. Butterfield & Son

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.