Denali Advisors LLC Sells 19,029 Shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Denali Advisors LLC lowered its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 170,386 shares of the bank's stock after selling 19,029 shares during the quarter. Denali Advisors LLC owned 0.36% of Bank of N.T. Butterfield & Son worth $6,631,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NTB. Legal & General Group Plc boosted its position in shares of Bank of N.T. Butterfield & Son by 5.1% in the 4th quarter. Legal & General Group Plc now owns 7,697 shares of the bank's stock valued at $281,000 after purchasing an additional 374 shares during the period. Stifel Financial Corp boosted its position in shares of Bank of N.T. Butterfield & Son by 5.6% in the 4th quarter. Stifel Financial Corp now owns 8,273 shares of the bank's stock valued at $302,000 after purchasing an additional 441 shares during the period. Quarry LP boosted its position in shares of Bank of N.T. Butterfield & Son by 19.7% in the 4th quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after purchasing an additional 505 shares during the period. Strategic Global Advisors LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 0.4% in the 4th quarter. Strategic Global Advisors LLC now owns 172,742 shares of the bank's stock valued at $6,314,000 after purchasing an additional 681 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock valued at $376,000 after purchasing an additional 918 shares during the period. Institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Stock Down 0.8%

Shares of NTB traded down $0.38 during midday trading on Friday, reaching $45.81. 275,158 shares of the stock were exchanged, compared to its average volume of 182,948. Bank of N.T. Butterfield & Son Limited has a 12-month low of $33.04 and a 12-month high of $46.89. The firm has a 50 day simple moving average of $43.75 and a 200-day simple moving average of $40.00. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 9.50 and a beta of 0.64.

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 for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. During the same period last year, the business earned $1.17 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that 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 company also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 36.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on NTB. Wells Fargo & Company increased their price objective on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Raymond James Financial reissued an "outperform" rating and issued a $50.00 price objective (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods increased their price objective on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th.

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.