The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stock Holdings Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,726,711 shares of the bank's stock after selling 74,760 shares during the quarter. Nuveen Asset Management LLC owned about 3.63% of Bank of N.T. Butterfield & Son worth $63,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTB. R Squared Ltd acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $72,000. Lazard Asset Management LLC acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $72,000. Quarry LP raised its stake in 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 in the last quarter. PDT Partners LLC acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $217,000. Finally, Raymond James Financial Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $219,000. Institutional investors and hedge funds own 62.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NTB shares. Keefe, Bruyette & Woods increased their price target on 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 increased their price target on 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 Stock Performance

Shares of Bank of N.T. Butterfield & Son stock traded down $0.16 on Friday, reaching $41.90. 265,500 shares of the company were exchanged, compared to its average volume of 189,761. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The company's 50-day moving average is $39.30 and its two-hundred day moving average is $38.17. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 8.88 and a beta of 0.66. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $32.78 and a 1-year high of $43.09.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced 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. The business had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. As a group, research analysts expect that The 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 disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is 36.51%.

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.