The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stock Holdings Lessened by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 65.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,718 shares of the bank's stock after selling 75,947 shares during the period. Franklin Resources Inc.'s holdings in Bank of N.T. Butterfield & Son were worth $1,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new position in Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $31,906,000. Jacobs Levy Equity Management Inc. grew its holdings in Bank of N.T. Butterfield & Son by 538.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank's stock worth $11,377,000 after acquiring an additional 260,168 shares during the period. American Century Companies Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 31.7% in the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank's stock valued at $30,782,000 after acquiring an additional 211,147 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Bank of N.T. Butterfield & Son by 93.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank's stock valued at $10,257,000 after purchasing an additional 134,351 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Bank of N.T. Butterfield & Son by 45.6% in the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank's stock worth $13,411,000 after purchasing an additional 119,572 shares during the last quarter. Institutional investors own 62.73% of the company's stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered shares of Bank of N.T. Butterfield & Son from an "outperform" rating to a "market perform" rating and cut their target price for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Trading Down 1.5 %

Shares of NYSE:NTB traded down $0.57 during midday trading on Friday, reaching $36.84. The company had a trading volume of 174,374 shares, compared to its average volume of 198,565. The company has a fifty day simple moving average of $37.53 and a two-hundred day simple moving average of $36.92. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 8.20 and a beta of 1.17. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $28.73 and a 1-year high of $40.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The bank reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. The company had revenue of $142.70 million during the quarter, compared to analysts' expectations of $142.07 million. During the same period last year, the company posted $1.16 earnings per share. The business's revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.52 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend was Tuesday, November 5th. Bank of N.T. Butterfield & Son's payout ratio is 39.20%.

Bank of N.T. Butterfield & Son Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.