Summit Global Investments Has $1.20 Million Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Summit Global Investments boosted its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 97.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,627 shares of the bank’s stock after buying an additional 16,079 shares during the period. Summit Global Investments’ holdings in Bank of N.T. Butterfield & Son were worth $1,203,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in NTB. Wedge Capital Management L L P NC increased its holdings in shares of Bank of N.T. Butterfield & Son by 1.4% during the third quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank’s stock valued at $837,000 after acquiring an additional 324 shares in the last quarter. ProShare Advisors LLC raised its holdings in Bank of N.T. Butterfield & Son by 8.5% during the first quarter. ProShare Advisors LLC now owns 8,725 shares of the bank’s stock worth $279,000 after buying an additional 686 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 16.2% in the first quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock valued at $206,000 after buying an additional 898 shares in the last quarter. EMC Capital Management grew its holdings in shares of Bank of N.T. Butterfield & Son by 23.8% during the first 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 last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the first quarter worth about $44,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTB has been the subject of a number of analyst reports. Wells Fargo & Company lifted 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. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Stock Down 0.1 %

Shares of NTB stock opened at $37.69 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $25.52 and a 52-week high of $40.55. The company has a 50-day simple moving average of $37.34 and a two-hundred day simple moving average of $36.13.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The firm had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.67%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.20%.

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.