Alliancebernstein L.P. Sells 8,030 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Alliancebernstein L.P. lowered its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,548 shares of the bank’s stock after selling 8,030 shares during the quarter. Alliancebernstein L.P. owned 0.10% of Bank of N.T. Butterfield & Son worth $1,701,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Rovida Investment Management Ltd acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth $65,568,000. Norges Bank bought a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $5,700,000. American Century Companies Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 9.9% during the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock worth $41,770,000 after buying an additional 103,339 shares during the last quarter. Polaris Capital Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $2,039,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at about $2,024,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Trading Up 0.6 %

Shares of NYSE:NTB opened at $37.45 on Friday. The company has a 50-day simple moving average of $38.17 and a 200 day simple moving average of $37.53. The company has a market capitalization of $1.78 billion, a P/E ratio of 7.93 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 $30.22 and a 52-week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts forecast 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 Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a yield of 4.70%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 37.29%.

Wall Street Analysts Forecast Growth

NTB has been the subject of several recent research reports. Keefe, Bruyette & Woods increased 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 upped their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. 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, Bank of N.T. Butterfield & Son presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

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.