Jacobs Levy Equity Management Inc. Has $11.38 Million Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Jacobs Levy Equity Management Inc. grew its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 538.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 308,496 shares of the bank's stock after purchasing an additional 260,168 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Bank of N.T. Butterfield & Son were worth $11,377,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTB. Vanguard Group Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 5.4% in the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank's stock valued at $28,910,000 after purchasing an additional 46,416 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Bank of N.T. Butterfield & Son by 12.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858 shares of the bank's stock valued at $444,000 after buying an additional 1,576 shares during the period. CWM LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 1,001.0% in the second quarter. CWM LLC now owns 4,327 shares of the bank's stock valued at $152,000 after buying an additional 3,934 shares during the period. SG Americas Securities LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 82.2% in the second quarter. SG Americas Securities LLC now owns 11,763 shares of the bank's stock valued at $413,000 after buying an additional 5,308 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter valued at about $138,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One research 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.com, Bank of N.T. Butterfield & Son has a consensus rating of "Moderate Buy" and an average target price of $39.60.

Bank of N.T. Butterfield & Son Trading Down 0.7 %

NTB traded down $0.25 during midday trading on Thursday, reaching $37.29. 146,961 shares of the company's stock were exchanged, compared to its average volume of 197,097. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The Bank of N.T. Butterfield & Son Limited has a one year low of $28.73 and a one year high of $40.55. The business has a 50-day simple moving average of $37.51 and a two-hundred day simple moving average of $36.53.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.06. The firm had revenue of $142.70 million during the quarter, compared to analysts' expectations of $142.07 million. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. The company's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. Research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Tuesday, November 5th. Bank of N.T. Butterfield & Son's payout ratio is 39.20%.

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.