Davis Selected Advisers Buys 5,712 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Davis Selected Advisers increased its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,076,424 shares of the bank’s stock after purchasing an additional 5,712 shares during the period. Davis Selected Advisers owned approximately 2.26% of Bank of N.T. Butterfield & Son worth $39,343,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NTB. Wealth Enhancement Advisory Services LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at about $330,000. Nisa Investment Advisors LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son by 222.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,554 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Bank of N.T. Butterfield & Son by 2,841.0% during the 3rd quarter. US Bancorp DE now owns 5,735 shares of the bank’s stock valued at $212,000 after purchasing an additional 5,540 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Bank of N.T. Butterfield & Son by 97.2% during the 3rd quarter. Summit Global Investments now owns 32,627 shares of the bank’s stock valued at $1,203,000 after purchasing an additional 16,079 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at about $37,000. Institutional investors own 62.73% of the company’s stock.

Analyst Upgrades and Downgrades

NTB has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their target price on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Trading Up 0.3 %

NYSE NTB opened at $37.02 on Friday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 7.84 and a beta of 1.15. The stock’s 50 day moving average price is $37.61 and its two-hundred day moving average price is $37.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $29.06 and a 52 week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. As a group, analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 37.29%.

About Bank of N.T. Butterfield & Son

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.