Allspring Global Investments Holdings LLC lifted its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 109,717 shares of the bank's stock after purchasing 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 and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Rovida Investment Management Ltd purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $65,568,000. American Century Companies Inc. boosted its holdings in 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 valued at $41,770,000 after acquiring an additional 103,339 shares during the period. Invesco Ltd. boosted its holdings in Bank of N.T. Butterfield & Son by 3.3% during the 4th quarter. Invesco Ltd. now owns 868,888 shares of the bank's stock valued at $31,758,000 after acquiring an additional 27,619 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Bank of N.T. Butterfield & Son by 10.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 600,603 shares of the bank's stock valued at $21,952,000 after acquiring an additional 57,815 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank's stock valued at $18,363,000 after acquiring an additional 43,190 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.
Bank of N.T. Butterfield & Son Stock Up 0.9%
NTB stock traded up $0.42 during mid-day trading on Thursday, reaching $46.79. The company had a trading volume of 167,773 shares, compared to its average volume of 185,254. 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 company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.71 and a beta of 0.64. The firm has a fifty day simple moving average of $43.03 and a 200 day simple moving average of $39.54. Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $33.04 and a fifty-two week high of $46.89.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.27. The company had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. Bank of N.T. Butterfield & Son's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. Analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 36.51%.
Analysts Set New Price Targets
A number of equities analysts recently commented on NTB shares. Wells Fargo & Company raised their target price on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods raised their target price on 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. Finally, Raymond James Financial restated an "outperform" rating and set a $50.00 target price (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday.
View Our Latest Stock Analysis on Bank of N.T. Butterfield & Son
Bank of N.T. Butterfield & Son Profile
(
Free Report)
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.
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