Norges Bank Buys New Shares in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Norges Bank purchased a new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 155,958 shares of the bank's stock, valued at approximately $5,700,000. Norges Bank owned approximately 0.33% of Bank of N.T. Butterfield & Son as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rovida Investment Management Ltd acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $65,568,000. American Century Companies Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 9.9% in the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock valued at $41,770,000 after purchasing an additional 103,339 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth $2,769,000. Polaris Capital Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $2,039,000. Finally, JPMorgan Chase & Co. grew its position in 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 acquiring an additional 48,463 shares during the last quarter. Institutional investors own 62.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTB. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. 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 note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

Bank of N.T. Butterfield & Son Trading Up 1.7 %

Shares of NTB traded up $0.63 during mid-day trading on Tuesday, reaching $37.05. 6,622 shares of the company were exchanged, compared to its average volume of 187,880. The business has a 50 day simple moving average of $38.22 and a two-hundred day simple moving average of $37.53. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $30.07 and a 52 week high of $41.88. The stock has a market capitalization of $1.76 billion, a PE ratio of 7.85 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) 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%. On average, analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) 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.