Ieq Capital LLC Boosts Holdings in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Ieq Capital LLC raised its holdings in Bank of N.T. Butterfield & Son Limited by 104.2% during the first quarter, now owning approximately 0.06% of the bank's stock valued at $1,072,000.
• Analysts have set new price targets for NTB, with Wells Fargo raising its target from $46.00 to $54.00 and Keefe, Bruyette & Woods increasing theirs from $48.00 to $50.00, indicating a positive outlook on the stock.
• The Bank of N.T. Butterfield & Son recently announced a quarterly dividend of $0.50 per share, reflecting an annualized dividend of $2.00 and a yield of 4.4%, up from its previous dividend.

Ieq Capital LLC increased its stake in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 104.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,552 shares of the bank's stock after purchasing an additional 14,062 shares during the period. Ieq Capital LLC owned approximately 0.06% of Bank of N.T. Butterfield & Son worth $1,072,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp grew its position in Bank of N.T. Butterfield & Son by 5.6% during the fourth quarter. Stifel Financial Corp now owns 8,273 shares of the bank's stock valued at $302,000 after acquiring an additional 441 shares during the last quarter. Strategic Global Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 0.4% during the fourth quarter. Strategic Global Advisors LLC now owns 172,742 shares of the bank's stock valued at $6,314,000 after buying an additional 681 shares during the period. GSA Capital Partners LLP lifted its position in Bank of N.T. Butterfield & Son by 4.6% during the first quarter. GSA Capital Partners LLP now owns 16,663 shares of the bank's stock valued at $649,000 after buying an additional 739 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Bank of N.T. Butterfield & Son by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock valued at $376,000 after buying an additional 918 shares during the period. Finally, GAMMA Investing LLC lifted its position in Bank of N.T. Butterfield & Son by 216.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock valued at $52,000 after buying an additional 921 shares during the period. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Down 1.5%

Shares of Bank of N.T. Butterfield & Son stock traded down $0.69 during trading hours on Friday, reaching $44.61. 182,179 shares of the stock traded hands, compared to its average volume of 188,743. The company has a 50 day moving average price of $45.25 and a 200 day moving average price of $41.83. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 8.96 and a beta of 0.67. Bank of N.T. Butterfield & Son Limited has a one year low of $34.77 and a one year high of $46.89.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The bank reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. The business had revenue of $146.30 million during the quarter, compared to the consensus estimate of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same period in the previous year, the company posted $1.09 EPS. Sell-side analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from Bank of N.T. Butterfield & Son's previous quarterly dividend of $0.44. Bank of N.T. Butterfield & Son's payout ratio is presently 40.16%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NTB shares. Wells Fargo & Company raised their price objective on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Raymond James Financial restated an "outperform" rating and set a $50.00 price target (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a "market perform" rating in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.33.

Bank of N.T. Butterfield & Son 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.