Vanguard Group Inc. Has $21.94 Million Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Vanguard Group Inc. boosted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 20.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 810,156 shares of the bank's stock after acquiring an additional 139,485 shares during the quarter. Vanguard Group Inc. owned 1.61% of Bank of N.T. Butterfield & Son worth $21,939,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son by 46.7% during the third quarter. Envestnet Asset Management Inc. now owns 156,733 shares of the bank's stock worth $4,244,000 after purchasing an additional 49,913 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 343,854 shares of the bank's stock valued at $9,312,000 after acquiring an additional 22,495 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Bank of N.T. Butterfield & Son by 11.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank's stock valued at $47,843,000 after acquiring an additional 182,265 shares during the last quarter. Invesco Ltd. boosted its holdings in Bank of N.T. Butterfield & Son by 0.4% in the third quarter. Invesco Ltd. now owns 808,823 shares of the bank's stock valued at $21,903,000 after acquiring an additional 2,889 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Bank of N.T. Butterfield & Son by 304.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank's stock valued at $234,000 after acquiring an additional 6,500 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods decreased their price target on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Bank of N.T. Butterfield & Son Trading Down 1.0 %

NTB traded down $0.30 during midday trading on Friday, reaching $30.67. 104,119 shares of the company were exchanged, compared to its average volume of 173,762. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a one year low of $22.93 and a one year high of $33.80. The stock has a market capitalization of $1.54 billion, a P/E ratio of 6.73 and a beta of 1.29. The stock's 50-day simple moving average is $30.44 and its 200 day simple moving average is $29.52.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Tuesday, February 13th. The bank reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.04. Bank of N.T. Butterfield & Son had a return on equity of 24.29% and a net margin of 29.60%. The firm had revenue of $146.90 million for the quarter, compared to analysts' expectations of $141.34 million. During the same quarter last year, the business earned $1.27 earnings per share. As a group, analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.12 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend was Friday, February 23rd. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 38.60%.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.