Maverick Capital Ltd. Acquires New Holdings in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB)

Maverick Capital Ltd. acquired a new stake in shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 123,170 shares of the bank’s stock, valued at approximately $4,183,000. Maverick Capital Ltd. owned approximately 0.23% of Bank of N.T. Butterfield & Son as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in Bank of N.T. Butterfield & Son by 1.5% during the second quarter. BlackRock Inc. now owns 2,625,990 shares of the bank’s stock valued at $89,179,000 after acquiring an additional 40,051 shares in the last quarter. Grandeur Peak Global Advisors LLC raised its position in Bank of N.T. Butterfield & Son by 8.6% during the second quarter. Grandeur Peak Global Advisors LLC now owns 1,023,238 shares of the bank’s stock valued at $34,749,000 after acquiring an additional 80,825 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Bank of N.T. Butterfield & Son during the second quarter valued at approximately $30,852,000. Wells Fargo & Company MN raised its position in Bank of N.T. Butterfield & Son by 23.3% during the second quarter. Wells Fargo & Company MN now owns 751,141 shares of the bank’s stock valued at $25,509,000 after acquiring an additional 141,898 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Bank of N.T. Butterfield & Son by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 747,515 shares of the bank’s stock valued at $23,435,000 after purchasing an additional 57,763 shares during the period. 71.48% of the stock is currently owned by hedge funds and other institutional investors.

NTB has been the topic of a number of recent analyst reports. Wells Fargo & Co lowered shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $44.00 to $38.00 in a research report on Monday, July 1st. ValuEngine raised shares of Bank of N.T. Butterfield & Son from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 19th. Raymond James dropped their price target on shares of Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Citigroup dropped their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $39.80.

Shares of NYSE:NTB traded up $0.14 during trading on Tuesday, reaching $29.79. The stock had a trading volume of 63,891 shares, compared to its average volume of 213,592. Bank of N.T. Butterfield & Son Ltd has a 52 week low of $26.08 and a 52 week high of $53.26. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 1.31 and a beta of 1.85. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $28.79 and a two-hundred day simple moving average of $33.80.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. Bank of N.T. Butterfield & Son had a net margin of 34.60% and a return on equity of 22.69%. The company had revenue of $129.40 million for the quarter, compared to analyst estimates of $133.65 million. During the same quarter last year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Bank of N.T. Butterfield & Son Ltd will post 3.79 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.

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

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