Harbor Capital Advisors Inc. Buys 24,107 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Harbor Capital Advisors Inc. increased its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,626 shares of the bank's stock after acquiring an additional 24,107 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.24% of Bank of N.T. Butterfield & Son worth $4,383,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $72,000. Quarry LP raised its stake in shares of Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after acquiring an additional 505 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock worth $157,000 after acquiring an additional 2,666 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth about $217,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth about $219,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Trading Down 1.8%

Shares of NYSE:NTB traded down $0.77 on Friday, hitting $42.30. 138,700 shares of the company's stock were exchanged, compared to its average volume of 187,112. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.96 and a beta of 0.64. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $32.96 and a 12 month high of $43.85. 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 business's 50 day simple moving average is $40.63 and its two-hundred day simple moving average is $38.67.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.27. The company had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. Analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal 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 given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's payout ratio is 36.51%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods boosted 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 research report on Friday, April 25th.

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.