Alliancebernstein L.P. Has $1.70 Million Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

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

A number of other large investors have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $72,000. Raymond James Financial Inc. purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at $219,000. Handelsbanken Fonder AB acquired a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $230,000. Stifel Financial Corp grew its holdings in shares of 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 stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at $291,000. Hedge funds and other institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock traded up $0.62 during trading on Wednesday, hitting $38.58. The stock had a trading volume of 10,780 shares, compared to its average volume of 190,191. The business has a fifty day moving average of $37.98 and a two-hundred day moving average of $37.57. The firm has a market cap of $1.83 billion, a P/E ratio of 8.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $31.60 and a fifty-two week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared 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. This represents a $1.76 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 37.29%.

Analyst Ratings Changes

A number of research analysts have weighed in on NTB shares. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods increased their target price on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Bank of N.T. Butterfield & Son currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Company 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.