Allspring Global Investments Holdings LLC Buys 5,586 Shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Allspring Global Investments Holdings LLC grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,717 shares of the bank's stock after acquiring an additional 5,586 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Bank of N.T. Butterfield & Son worth $4,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NTB. Victory Capital Management Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 9.4% during the fourth quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank's stock valued at $18,363,000 after buying an additional 43,190 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $219,000. Intech Investment Management LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 301.7% during the fourth quarter. Intech Investment Management LLC now owns 29,556 shares of the bank's stock valued at $1,080,000 after buying an additional 22,199 shares during the last quarter. Magnetar Financial LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 43.2% during the fourth quarter. Magnetar Financial LLC now owns 26,278 shares of the bank's stock valued at $960,000 after buying an additional 7,932 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Bank of N.T. Butterfield & Son by 44.6% in the 4th quarter. Quantbot Technologies LP now owns 17,994 shares of the bank's stock worth $658,000 after buying an additional 5,547 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, April 25th.

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB traded down $0.19 during trading on Monday, hitting $46.15. 152,463 shares of the company's stock traded hands, compared to its average volume of 185,476. Bank of N.T. Butterfield & Son Limited has a 12-month low of $33.04 and a 12-month high of $46.75. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 9.57 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50 day moving average of $42.69 and a 200-day moving average of $39.38.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.89 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son's payout ratio is 36.51%.

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.