Vanguard Group Inc. Has $32.34 Million Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Vanguard Group Inc. lessened its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 884,879 shares of the bank’s stock after selling 19,057 shares during the quarter. Vanguard Group Inc. owned about 1.86% of Bank of N.T. Butterfield & Son worth $32,342,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. R Squared Ltd bought a new stake in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $72,000. Raymond James Financial Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth $219,000. Handelsbanken Fonder AB acquired a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at $230,000. Stifel Financial Corp raised its holdings in Bank of N.T. Butterfield & Son by 8.3% in the 3rd quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after acquiring an additional 602 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth $291,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report 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 an average rating of “Moderate Buy” and an average target price of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB opened at $35.73 on Monday. The firm’s 50-day moving average is $38.26 and its 200-day moving average is $37.54. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 7.57 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $30.07 and a 52-week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. Equities research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 37.29%.

About Bank of N.T. Butterfield & Son

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.