Longboard Asset Management LP Makes New Investment in Bank of N.T. Butterfield & Son Limited (The) $NTB

Longboard Asset Management LP acquired a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,742 shares of the bank’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Bank of N.T. Butterfield & Son by 216.7% during the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock valued at $52,000 after buying an additional 921 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at $72,000. Quarry LP raised its position in shares of Bank of N.T. Butterfield & Son by 8.4% during the 1st quarter. Quarry LP now owns 3,327 shares of the bank’s stock valued at $129,000 after buying an additional 258 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at $201,000. Finally, Nisa Investment Advisors LLC raised its position in shares of 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 valued at $269,000 after buying an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 0.8%

NYSE:NTB opened at $44.85 on Thursday. The company has a 50-day moving average price of $45.11 and a 200-day moving average price of $42.14. Bank of N.T. Butterfield & Son Limited has a 12 month low of $34.77 and a 12 month high of $46.89. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 9.01 and a beta of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. Bank of N.T. Butterfield & Son had a net margin of 27.05% and a return on equity of 21.16%. The firm had revenue of $146.30 million during the quarter, compared to analysts’ expectations of $146.91 million. During the same period last year, the company posted $1.09 EPS. Equities analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of 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 objective (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased 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 report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.