Cwm LLC Increases Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Cwm LLC raised its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 170.5% in the third quarter, Holdings Channel reports. The institutional investor owned 11,704 shares of the bank’s stock after purchasing an additional 7,377 shares during the period. Cwm LLC’s holdings in Bank of N.T. Butterfield & Son were worth $432,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter worth $44,000. Meeder Asset Management Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth about $56,000. Point72 Asset Management L.P. acquired a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter worth about $63,000. Blue Trust Inc. purchased a new position in Bank of N.T. Butterfield & Son in the 2nd quarter valued at about $138,000. Finally, EMC Capital Management lifted its stake in Bank of N.T. Butterfield & Son by 23.8% in the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after buying an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group upped 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 report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One equities research 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 has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Stock Down 1.2 %

Shares of NTB opened at $38.73 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.95 billion, a P/E ratio of 8.70 and a beta of 1.18. The company’s 50-day moving average price is $37.12 and its 200 day moving average price is $35.52. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $24.62 and a 12-month high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. On average, sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.45 earnings per share for the current year.

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.