Blue Trust Inc. Trims Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Blue Trust Inc. lowered its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 60.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,724 shares of the bank’s stock after selling 2,605 shares during the period. Blue Trust Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $61,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Bank of N.T. Butterfield & Son by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after buying an additional 51,875 shares during the period. Westwood Holdings Group Inc. purchased a new position in Bank of N.T. Butterfield & Son during the second quarter worth about $31,906,000. Vanguard Group Inc. lifted its position in Bank of N.T. Butterfield & Son by 5.4% in the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after purchasing an additional 46,416 shares during the period. American Century Companies Inc. increased its position in Bank of N.T. Butterfield & Son by 31.7% during the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock worth $30,782,000 after purchasing an additional 211,147 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 45.6% during the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after buying an additional 119,572 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

NTB has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods cut shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $44.00 to $41.00 in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $39.60.

Bank of N.T. Butterfield & Son Stock Down 1.7 %

Shares of NTB opened at $36.59 on Friday. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $24.62 and a 1-year high of $40.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $37.40 and a 200-day simple moving average of $35.85.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The business had revenue of $142.70 million for the quarter, compared to the consensus estimate of $142.07 million. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. Analysts anticipate 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 will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Tuesday, November 5th. Bank of N.T. Butterfield & Son’s payout ratio is 39.20%.

Bank of N.T. Butterfield & Son Company 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.