JPMorgan Chase & Co. Trims Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

JPMorgan Chase & Co. trimmed its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 784,260 shares of the bank's stock after selling 340,373 shares during the period. JPMorgan Chase & Co. owned 1.65% of Bank of N.T. Butterfield & Son worth $28,665,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Clear Harbor Asset Management LLC lifted its holdings in Bank of N.T. Butterfield & Son by 2.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank's stock worth $422,000 after buying an additional 300 shares during the period. Stifel Financial Corp raised its position in shares of Bank of N.T. Butterfield & Son by 8.3% in the 3rd quarter. Stifel Financial Corp now owns 7,832 shares of the bank's stock worth $289,000 after acquiring an additional 602 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 1.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank's stock valued at $3,235,000 after purchasing an additional 971 shares during the period. Point72 DIFC Ltd boosted its position in shares of Bank of N.T. Butterfield & Son by 370.1% during the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank's stock valued at $50,000 after purchasing an additional 1,077 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Bank of N.T. Butterfield & Son in the fourth quarter worth $72,000. Institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Stock Up 0.8 %

Shares of NYSE NTB traded up $0.27 during trading on Friday, reaching $35.73. The company had a trading volume of 180,944 shares, compared to its average volume of 191,888. 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 quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The business's 50-day moving average is $38.26 and its 200 day moving average is $37.54. The stock has a market cap of $1.70 billion, a PE ratio of 7.57 and a beta of 0.82.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, beating 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, equities analysts forecast 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. Investors of record on Monday, February 24th were given a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 annualized dividend and a yield of 4.93%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 37.29%.

Analysts Set New Price Targets

Several brokerages have commented on NTB. Keefe, Bruyette & Woods raised their price objective on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a "market perform" rating in a research 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 stock 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 company's stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

About Bank of N.T. Butterfield & Son

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.