Nuveen Asset Management LLC Cuts Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Nuveen Asset Management LLC lowered its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,726,711 shares of the bank's stock after selling 74,760 shares during the period. Nuveen Asset Management LLC owned approximately 3.63% of Bank of N.T. Butterfield & Son worth $63,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $72,000. R Squared Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $72,000. Quarry LP grew 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 worth $112,000 after buying an additional 505 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $217,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Stock Down 0.2%

NYSE:NTB opened at $42.89 on Monday. The company has a market cap of $2.04 billion, a PE ratio of 9.09 and a beta of 0.66. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $32.78 and a twelve month high of $43.09. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $38.85 and its two-hundred day moving average is $38.01.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its earnings results 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. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The firm had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. During the same period in the previous year, the business posted $1.17 EPS. The business's revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that The 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 announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 36.51%.

Analysts Set New Price Targets

Several research firms have weighed in on NTB. Keefe, Bruyette & Woods boosted their target price on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Wells Fargo & Company boosted their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.