Rhumbline Advisers Trims Stock Position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Rhumbline Advisers cut its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 11.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,273 shares of the bank's stock after selling 10,751 shares during the quarter. Rhumbline Advisers owned 0.17% of Bank of N.T. Butterfield & Son worth $3,202,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 2.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 104,131 shares of the bank's stock valued at $3,806,000 after buying an additional 2,927 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 31,342 shares of the bank's stock worth $1,146,000 after acquiring an additional 2,459 shares during the period. Ieq Capital LLC purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $493,000. Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $230,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $359,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock traded up $0.34 on Thursday, reaching $42.28. 138,805 shares of the company were exchanged, compared to its average volume of 186,936. Bank of N.T. Butterfield & Son Limited has a 1 year low of $33.04 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50-day moving average price of $40.98 and a 200 day moving average price of $38.76. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 8.77 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 EPS for the quarter, topping the consensus estimate of $1.03 by $0.27. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. Bank of N.T. Butterfield & Son's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. Equities research analysts forecast that 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.16%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 36.51%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price objective 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 note on Friday, April 25th.

About Bank of N.T. Butterfield & Son

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.