The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,548 shares of the bank's stock after selling 8,030 shares during the period. Alliancebernstein L.P. owned 0.10% of Bank of N.T. Butterfield & Son worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $72,000. Raymond James Financial Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $219,000. Handelsbanken Fonder AB acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $230,000. Stifel Financial Corp raised its holdings in shares of Bank of N.T. Butterfield & Son by 8.3% in the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank's stock worth $289,000 after buying an additional 602 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $291,000. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTB. Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods increased their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a "market perform" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded up $0.89 during mid-day trading on Tuesday, reaching $38.00. The company had a trading volume of 57,480 shares, compared to its average volume of 190,239. The stock has a market capitalization of $1.81 billion, a P/E ratio of 8.05 and a beta of 0.82. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $31.09 and a 52-week high of $41.88. The stock has a 50 day moving average of $38.03 and a two-hundred day moving average of $37.57. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

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

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.63%. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 37.29%.

Bank of N.T. Butterfield & Son Profile

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.