Bank of New York Mellon Corp Reduces Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Bank of New York Mellon Corp decreased its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.5% in the fourth quarter, Holdings Channel reports. The fund owned 128,155 shares of the bank’s stock after selling 7,392 shares during the period. Bank of New York Mellon Corp’s holdings in Bank of N.T. Butterfield & Son were worth $4,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Clear Harbor Asset Management LLC raised its holdings in Bank of N.T. Butterfield & Son by 2.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank’s stock valued at $422,000 after buying an additional 300 shares during the period. Stifel Financial Corp increased its stake in shares of Bank of N.T. Butterfield & Son by 8.3% during the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after buying an additional 602 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 1.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank’s stock worth $3,235,000 after purchasing an additional 971 shares during the last quarter. Point72 DIFC Ltd boosted its position in shares of Bank of N.T. Butterfield & Son by 370.1% during the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after acquiring an additional 1,077 shares in the last quarter. Finally, Quarry LP boosted its holdings in Bank of N.T. Butterfield & Son by 223.7% in the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,772 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NTB has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their target price 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 upped their price objective 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 note 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 data from MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.80.

Bank of N.T. Butterfield & Son Stock Up 0.1 %

NTB opened at $37.93 on Tuesday. The business has a 50 day moving average price of $37.70 and a two-hundred day moving average price of $37.49. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $29.54 and a 52 week high of $41.88. The company has a market cap of $1.80 billion, a PE ratio of 8.04 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.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Monday, February 10th. The bank reported $1.34 EPS 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, research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.64%. Bank of N.T. Butterfield & Son’s payout ratio is currently 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.