SG Americas Securities LLC Purchases 7,366 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

SG Americas Securities LLC grew its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 62.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,129 shares of the bank’s stock after buying an additional 7,366 shares during the period. SG Americas Securities LLC’s holdings in Bank of N.T. Butterfield & Son were worth $705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Lazard Asset Management LLC purchased a new position in Bank of N.T. Butterfield & Son during the 1st quarter valued at about $44,000. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter valued at $56,000. Point72 Asset Management L.P. bought a new stake in Bank of N.T. Butterfield & Son in the second quarter worth $63,000. Blue Trust Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter worth $138,000. Finally, CWM LLC raised its position in shares of 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 worth $152,000 after purchasing an additional 3,934 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTB has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of 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. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $44.00 to $41.00 in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price target 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.60.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB opened at $37.34 on Monday. 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 business’s fifty day moving average price is $36.71 and its 200-day moving average price is $35.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.39 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued 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 firm had revenue of $143.10 million for the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. On average, equities analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Monday, August 5th. Bank of N.T. Butterfield & Son’s payout ratio is 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.