New York State Common Retirement Fund Lowers Stock Position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

New York State Common Retirement Fund decreased its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,810 shares of the bank's stock after selling 7,400 shares during the quarter. New York State Common Retirement Fund owned 0.14% of Bank of N.T. Butterfield & Son worth $2,522,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Bank of N.T. Butterfield & Son by 5.1% during the 4th quarter. Legal & General Group Plc now owns 7,697 shares of the bank's stock worth $281,000 after purchasing an additional 374 shares during the last quarter. Stifel Financial Corp increased its position in shares of Bank of N.T. Butterfield & Son by 5.6% in the fourth quarter. Stifel Financial Corp now owns 8,273 shares of the bank's stock valued at $302,000 after acquiring an additional 441 shares during the period. Quarry LP increased its position in shares of Bank of N.T. Butterfield & Son by 19.7% during the fourth quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after buying an additional 505 shares during the period. Strategic Global Advisors LLC boosted its stake in Bank of N.T. Butterfield & Son by 0.4% during the fourth quarter. Strategic Global Advisors LLC now owns 172,742 shares of the bank's stock worth $6,314,000 after acquiring an additional 681 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 10.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock worth $376,000 after buying an additional 918 shares in the last quarter. Institutional investors own 62.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Raymond James Financial restated an "outperform" rating and issued a $50.00 target price (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their target price on shares of Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB traded down $0.06 during trading hours on Friday, hitting $44.28. 123,285 shares of the company were exchanged, compared to its average volume of 155,046. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65. Bank of N.T. Butterfield & Son Limited has a 52-week low of $33.04 and a 52-week high of $46.89. The company's 50 day moving average price is $43.98 and its 200-day moving average price is $40.30. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 9.19 and a beta of 0.64.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings data 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 net margin of 26.54% and a return on equity of 21.30%. The company had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. During the same period in the prior year, the business posted $1.17 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

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.