Royce & Associates LP lessened its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 438,003 shares of the bank's stock after selling 21,867 shares during the period. Royce & Associates LP owned about 0.92% of Bank of N.T. Butterfield & Son worth $16,009,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Jane Street Group LLC lifted its holdings in Bank of N.T. Butterfield & Son by 42.7% during the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank's stock valued at $2,639,000 after purchasing an additional 21,430 shares in the last quarter. Barclays PLC increased its position in Bank of N.T. Butterfield & Son by 276.9% during the third quarter. Barclays PLC now owns 60,763 shares of the bank's stock valued at $2,241,000 after acquiring an additional 44,641 shares during the last quarter. JPMorgan Chase & Co. increased its position in Bank of N.T. Butterfield & Son by 4.5% during 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. Handelsbanken Fonder AB bought a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at $230,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $359,000. Hedge funds and other institutional investors own 62.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on NTB shares. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company increased their price target on shares of 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.
Check Out Our Latest Research Report on NTB
Bank of N.T. Butterfield & Son Stock Performance
Shares of Bank of N.T. Butterfield & Son stock traded down $0.02 during midday trading on Thursday, hitting $38.55. The company had a trading volume of 158,315 shares, compared to its average volume of 180,704. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 8.17 and a beta of 1.10. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $37.80 and a 200 day simple moving average of $37.49. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $30.07 and a 12-month high of $41.88.
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 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, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.57%. Bank of N.T. Butterfield & Son's payout ratio is 37.29%.
About Bank of N.T. Butterfield & Son
(
Free Report)
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.
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