The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,659 shares of the bank’s stock after selling 3,237 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bank of N.T. Butterfield & Son were worth $3,746,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $10,909,000. Assenagon Asset Management S.A. lifted its stake in Bank of N.T. Butterfield & Son by 635.5% in the first quarter. Assenagon Asset Management S.A. now owns 152,896 shares of the bank’s stock valued at $4,891,000 after buying an additional 132,107 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the first quarter valued at approximately $2,905,000. Vanguard Group Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 5.4% during the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock worth $28,910,000 after acquiring an additional 46,416 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter valued at $977,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NYSE:NTB opened at $38.25 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $36.58 and its 200 day moving average price is $33.82. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $24.62 and a 1-year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The business had revenue of $143.10 million for the quarter, compared to the consensus estimate of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Sell-side analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.55 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Monday, August 5th. Bank of N.T. Butterfield & Son’s payout ratio is 39.55%.

Analyst Ratings Changes

A number of analysts recently weighed in on NTB shares. Wells Fargo & Company increased their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.40.

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.