Truist Financial Corp Takes Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Truist Financial Corp bought a new stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 15,829 shares of the bank's stock, valued at approximately $556,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NTB. Vanguard Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 903,713 shares of the bank's stock worth $28,910,000 after purchasing an additional 46,416 shares during the period. Jennison Associates LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth $977,000. Hahn Capital Management LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 20.2% during the 2nd quarter. Hahn Capital Management LLC now owns 89,826 shares of the bank's stock worth $3,155,000 after purchasing an additional 15,075 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in Bank of N.T. Butterfield & Son in the second quarter valued at about $31,906,000. Finally, Principal Financial Group Inc. raised its holdings in Bank of N.T. Butterfield & Son by 14.1% in the second quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank's stock worth $1,017,000 after purchasing an additional 3,574 shares in the last quarter. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

Shares of Bank of N.T. Butterfield & Son stock traded up $0.72 on Wednesday, reaching $39.07. 150,541 shares of the stock were exchanged, compared to its average volume of 199,252. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $24.62 and a twelve month high of $40.55. The business has a 50 day moving average price of $36.86 and a two-hundred day moving average price of $35.37. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.80 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. During the same quarter in the prior year, the business earned $1.14 earnings per share. The business's quarterly revenue was up .4% compared to the same quarter last year. Analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Monday, August 5th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is 39.55%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NTB. Wells Fargo & Company lifted their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has an average rating of "Moderate Buy" and an average price target of $39.60.

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 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.