Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Sold by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. reduced its position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 10.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 892,376 shares of the bank’s stock after selling 101,431 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $39,514,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 9.6% in the first quarter. Principal Financial Group Inc. now owns 34,350 shares of the bank’s stock valued at $1,337,000 after purchasing an additional 3,008 shares during the period. Bank of New York Mellon Corp increased its stake in Bank of N.T. Butterfield & Son by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 130,408 shares of the bank’s stock worth $4,923,000 after buying an additional 2,253 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Bank of N.T. Butterfield & Son by 885.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,900 shares of the bank’s stock worth $269,000 after buying an additional 6,200 shares in the last quarter. Cerity Partners LLC boosted its position in Bank of N.T. Butterfield & Son by 64.7% in the 1st quarter. Cerity Partners LLC now owns 14,322 shares of the bank’s stock valued at $557,000 after buying an additional 5,626 shares during the period. Finally, CWM LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 29.2% in the first quarter. CWM LLC now owns 15,000 shares of the bank’s stock worth $584,000 after acquiring an additional 3,388 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock opened at $45.45 on Friday. The stock’s fifty day moving average is $43.88 and its two-hundred day moving average is $43.90. The stock has a market cap of $2.16 billion, a PE ratio of 8.61 and a beta of 0.68. Bank of N.T. Butterfield & Son Limited has a 1-year low of $34.77 and a 1-year high of $46.92.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 21.94% and a net margin of 28.27%.The business had revenue of $153.30 million for the quarter, compared to the consensus estimate of $147.92 million. During the same quarter in the prior year, the business posted $1.16 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.00 dividend on an annualized basis and a yield of 4.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.88%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, October 8th. Zacks Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $50.00 to $52.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 price objective (down from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.67.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.