The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Holdings Lifted by Hahn Capital Management LLC

Hahn Capital Management LLC increased its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 20.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,826 shares of the bank’s stock after acquiring an additional 15,075 shares during the period. Bank of N.T. Butterfield & Son comprises about 1.5% of Hahn Capital Management LLC’s holdings, making the stock its 27th largest holding. Hahn Capital Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $3,155,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 45.6% in the second quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after purchasing an additional 119,572 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Bank of N.T. Butterfield & Son in the 2nd quarter valued at approximately $855,000. Principal Financial Group Inc. lifted its position in Bank of N.T. Butterfield & Son by 14.1% in the 2nd quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank’s stock worth $1,017,000 after buying an additional 3,574 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $5,883,000 after buying an additional 4,881 shares during the period. Finally, Summit Global Investments grew its holdings in shares of Bank of N.T. Butterfield & Son by 25.3% during the 2nd quarter. Summit Global Investments now owns 16,548 shares of the bank’s stock valued at $581,000 after acquiring an additional 3,342 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on NTB. The Goldman Sachs Group lifted their price objective on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Wells Fargo & Company raised their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Bank of N.T. Butterfield & Son Trading Down 1.9 %

Bank of N.T. Butterfield & Son stock opened at $36.68 on Friday. The Bank of N.T. Butterfield & Son Limited has a one year low of $24.62 and a one year high of $40.55. The company’s fifty day moving average price is $36.89 and its two-hundred day moving average price is $34.07. 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 company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.24 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 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.32% and a net margin of 25.97%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. On average, analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.55 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 was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a dividend of $0.44 per share. The ex-dividend date was Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.80%. 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.