Jacobs Levy Equity Management Inc. Boosts Holdings in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB)

Jacobs Levy Equity Management Inc. increased its position in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 27.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 377,506 shares of the bank’s stock after buying an additional 81,720 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.69% of Bank of N.T. Butterfield & Son worth $13,545,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of NTB. Sapience Investments LLC increased its holdings in Bank of N.T. Butterfield & Son by 15.5% in the first quarter. Sapience Investments LLC now owns 384,265 shares of the bank’s stock valued at $13,787,000 after buying an additional 51,690 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 2.1% during the first quarter. OppenheimerFunds Inc. now owns 563,665 shares of the bank’s stock worth $20,224,000 after purchasing an additional 11,544 shares in the last quarter. Globeflex Capital L P increased its stake in shares of Bank of N.T. Butterfield & Son by 21.1% during the first quarter. Globeflex Capital L P now owns 170,358 shares of the bank’s stock worth $6,112,000 after purchasing an additional 29,678 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Bank of N.T. Butterfield & Son by 2.3% during the first quarter. Pinnacle Associates Ltd. now owns 84,798 shares of the bank’s stock worth $3,043,000 after purchasing an additional 1,925 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its stake in shares of Bank of N.T. Butterfield & Son by 20.0% during the first quarter. Affinity Investment Advisors LLC now owns 10,423 shares of the bank’s stock worth $374,000 after purchasing an additional 1,740 shares in the last quarter. 71.58% of the stock is owned by institutional investors.

A number of research firms recently weighed in on NTB. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Wells Fargo & Co lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $44.00 to $38.00 in a research report on Monday, July 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.50.

NYSE:NTB traded up $0.31 on Friday, hitting $34.26. The stock had a trading volume of 257,719 shares, compared to its average volume of 279,691. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $1.87 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.49 and a beta of 1.80. The stock has a fifty day moving average price of $35.46. Bank of N.T. Butterfield & Son Ltd has a 1-year low of $29.42 and a 1-year high of $53.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Thursday, April 25th. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.07. The company had revenue of $131.36 million for the quarter, compared to analyst estimates of $133.29 million. Bank of N.T. Butterfield & Son had a net margin of 37.06% and a return on equity of 23.28%. During the same period in the previous year, the business posted $0.81 EPS. Analysts forecast that Bank of N.T. Butterfield & Son Ltd will post 3.83 EPS for the current year.

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 non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son (NYSE:NTB)

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