The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 46.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,098 shares of the bank’s stock after selling 38,736 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Bank of N.T. Butterfield & Son worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTB. R Squared Ltd acquired a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $72,000. Raymond James Financial Inc. purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $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 lifted its stake in shares of Bank of N.T. Butterfield & Son by 8.3% during the 3rd quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after purchasing an additional 602 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at $291,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Keefe, Bruyette & Woods lifted 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 report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of 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 assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Price Performance

NTB stock opened at $37.45 on Friday. The stock has a 50-day moving average price of $38.11 and a two-hundred day moving average price of $37.55. The company has a market cap of $1.78 billion, a PE ratio of 7.93 and a beta of 0.82. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $31.09 and a 12-month high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.70%. Bank of N.T. Butterfield & Son’s payout ratio is 37.29%.

Bank of N.T. Butterfield & Son Profile

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.