Man Group plc Sells 11,395 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Man Group plc reduced its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,787 shares of the bank's stock after selling 11,395 shares during the period. Man Group plc's holdings in Bank of N.T. Butterfield & Son were worth $577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rovida Investment Management Ltd acquired a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at $65,568,000. American Century Companies Inc. increased its position in shares of Bank of N.T. Butterfield & Son by 9.9% in the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock worth $41,770,000 after purchasing an additional 103,339 shares during the last quarter. Davis Selected Advisers raised its stake in shares of Bank of N.T. Butterfield & Son by 0.5% in the 4th quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank's stock valued at $39,343,000 after purchasing an additional 5,712 shares in the last quarter. Invesco Ltd. lifted its position in shares of Bank of N.T. Butterfield & Son by 3.3% during the fourth quarter. Invesco Ltd. now owns 868,888 shares of the bank's stock worth $31,758,000 after purchasing an additional 27,619 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Bank of N.T. Butterfield & Son by 10.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 600,603 shares of the bank's stock worth $21,952,000 after purchasing an additional 57,815 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Bank of N.T. Butterfield & Son stock traded up $0.12 during mid-day trading on Friday, hitting $42.39. The company's stock had a trading volume of 11,905 shares, compared to its average volume of 183,967. 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 stock's fifty day moving average price is $39.58 and its two-hundred day moving average price is $38.29. The stock has a market capitalization of $2.01 billion, a P/E ratio of 8.98 and a beta of 0.66. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

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 the consensus estimate of $1.03 by $0.27. The firm 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 net margin of 26.51% and a return on equity of 21.46%. The company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. Research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 4.15%. Bank of N.T. Butterfield & Son's dividend payout ratio is 36.51%.

Analysts Set New Price Targets

NTB has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target 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. Wells Fargo & Company increased 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 report on Wednesday, February 12th.

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.