Geode Capital Management LLC Decreases Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Geode Capital Management LLC decreased its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 532,420 shares of the bank's stock after selling 31,041 shares during the period. Geode Capital Management LLC owned about 1.12% of Bank of N.T. Butterfield & Son worth $19,460,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NTB. Clear Harbor Asset Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 2.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank's stock valued at $422,000 after purchasing an additional 300 shares during the period. Stifel Financial Corp increased its position 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 valued at $289,000 after acquiring an additional 602 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 1.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank's stock valued at $3,235,000 after acquiring an additional 971 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $72,000. Finally, Rhumbline Advisers grew its stake in shares of Bank of N.T. Butterfield & Son by 2.4% in the fourth quarter. Rhumbline Advisers now owns 93,024 shares of the bank's stock worth $3,400,000 after purchasing an additional 2,156 shares during the last quarter. 62.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NTB. Keefe, Bruyette & Woods lifted their price objective on 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. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Stock Down 0.9 %

Bank of N.T. Butterfield & Son stock traded down $0.32 on Monday, hitting $37.16. 193,870 shares of the stock traded hands, compared to its average volume of 190,751. The Bank of N.T. Butterfield & Son Limited has a 1 year low of $31.09 and a 1 year high of $41.88. The firm has a market cap of $1.77 billion, a P/E ratio of 7.87 and a beta of 0.82. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $38.11 and its 200 day simple moving average is $37.56.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.74%. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 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.