Invesco Ltd. grew its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 868,888 shares of the bank's stock after acquiring an additional 27,619 shares during the quarter. Invesco Ltd. owned about 1.83% of Bank of N.T. Butterfield & Son worth $31,758,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in NTB. Rovida Investment Management Ltd acquired a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at $65,568,000. Norges Bank acquired a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $5,700,000. American Century Companies Inc. raised its stake in Bank of N.T. Butterfield & Son by 9.9% during the fourth quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock worth $41,770,000 after purchasing an additional 103,339 shares during the period. Polaris Capital Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at $2,039,000. Finally, Schroder Investment Management Group purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at $2,024,000. Institutional investors and hedge funds own 62.73% of the company's stock.
Bank of N.T. Butterfield & Son Stock Up 1.6 %
NYSE NTB traded up $0.59 during trading hours on Wednesday, hitting $38.55. The company had a trading volume of 20,778 shares, compared to its average volume of 190,207. The firm's 50 day moving average is $37.98 and its 200 day moving average is $37.57. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 8.17 and a beta of 0.82. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $31.60 and a fifty-two week high of $41.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings results 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 return on equity of 21.46% and a net margin of 26.51%. Sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son's payout ratio is 37.29%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price 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 lifted their price objective 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.
Read Our Latest Analysis on Bank of N.T. Butterfield & Son
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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