Bank of New York Mellon Corp Sells 7,392 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Bank of New York Mellon Corp lowered its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,155 shares of the bank's stock after selling 7,392 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Bank of N.T. Butterfield & Son worth $4,684,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 538.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank's stock valued at $11,377,000 after acquiring an additional 260,168 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Bank of N.T. Butterfield & Son by 20.3% during the third quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank's stock valued at $16,936,000 after purchasing an additional 77,334 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Bank of N.T. Butterfield & Son during the third quarter worth approximately $2,769,000. Polaris Capital Management LLC acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $2,039,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Bank of N.T. Butterfield & Son by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank's stock valued at $41,476,000 after buying an additional 48,463 shares in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

NTB has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their target price 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 research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.80.

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

Shares of NYSE NTB traded down $0.28 during mid-day trading on Friday, reaching $38.23. The company had a trading volume of 174,635 shares, compared to its average volume of 181,587. The stock has a fifty day moving average of $37.85 and a two-hundred day moving average of $37.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $30.07 and a 12-month high of $41.88. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.10 and a beta of 1.10.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, topping 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%. As a group, equities research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $0.44 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a yield of 4.60%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 37.29%.

Bank of N.T. Butterfield & Son Company 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.