Commonwealth Equity Services LLC Acquires Shares of 24,341 The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Commonwealth Equity Services LLC bought a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,341 shares of the bank’s stock, valued at approximately $855,000.

Several other large investors also recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in Bank of N.T. Butterfield & Son in the 1st quarter valued at about $44,000. TFO Wealth Partners LLC raised its position in Bank of N.T. Butterfield & Son by 18,890.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after purchasing an additional 1,889 shares during the last quarter. Blue Trust Inc. acquired a new position in Bank of N.T. Butterfield & Son during the 2nd quarter worth $138,000. CWM LLC boosted its position in Bank of N.T. Butterfield & Son by 1,001.0% in the 2nd quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after buying an additional 3,934 shares during the last quarter. Finally, EMC Capital Management increased its stake in shares of Bank of N.T. Butterfield & Son by 23.8% in the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after buying an additional 1,092 shares during the period. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $37.66 on Wednesday. The stock has a market cap of $1.89 billion, a P/E ratio of 8.46 and a beta of 1.18. 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 stock’s 50-day moving average price is $37.22 and its two-hundred day moving average price is $34.45. 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 released its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The business had revenue of $143.10 million for 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%. Bank of N.T. Butterfield & Son’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. On average, equities analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.55 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on shares of 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.40.

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.