Handelsbanken Fonder AB Sells 2,300 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Handelsbanken Fonder AB lessened its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 21.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,600 shares of the bank’s stock after selling 2,300 shares during the period. Handelsbanken Fonder AB’s holdings in Bank of N.T. Butterfield & Son were worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NTB. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 66.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank’s stock worth $21,320,000 after buying an additional 266,450 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Bank of N.T. Butterfield & Son by 46.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 156,733 shares of the bank’s stock valued at $4,244,000 after acquiring an additional 49,913 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Bank of N.T. Butterfield & Son by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,854 shares of the bank’s stock valued at $9,312,000 after purchasing an additional 22,495 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Bank of N.T. Butterfield & Son by 11.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank’s stock worth $47,843,000 after purchasing an additional 182,265 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Bank of N.T. Butterfield & Son by 0.4% in the third quarter. Invesco Ltd. now owns 808,823 shares of the bank’s stock worth $21,903,000 after purchasing an additional 2,889 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

NTB has been the topic of several analyst reports. Raymond James reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their price target on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Bank of N.T. Butterfield & Son Trading Up 2.2 %

NYSE NTB opened at $35.15 on Friday. The business’s fifty day moving average is $31.19 and its 200-day moving average is $30.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 7.90 and a beta of 1.24. The Bank of N.T. Butterfield & Son Limited has a one year low of $22.93 and a one year high of $35.28.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The business had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same quarter in the previous year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 5.01%. The ex-dividend date of this dividend is Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 39.55%.

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.