The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 53.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,059 shares of the bank's stock after selling 142,083 shares during the quarter. Victory Capital Management Inc. owned about 0.25% of Bank of N.T. Butterfield & Son worth $3,971,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of 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 worth $47,843,000 after purchasing an additional 182,265 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 20.8% during the third quarter. Vanguard Group Inc. now owns 810,156 shares of the bank's stock valued at $21,939,000 after acquiring an additional 139,485 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 0.4% in the 3rd quarter. Invesco Ltd. now owns 808,823 shares of the bank's stock worth $21,903,000 after buying an additional 2,889 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Bank of N.T. Butterfield & Son by 66.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank's stock valued at $21,320,000 after acquiring an additional 266,450 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 worth $9,312,000 after acquiring an additional 22,495 shares during the period. Institutional investors own 62.73% of the company's stock.

Bank of N.T. Butterfield & Son Price Performance

NTB traded down $0.20 during midday trading on Thursday, hitting $35.61. 180,631 shares of the company traded hands, compared to its average volume of 211,354. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $24.23 and a 52-week high of $36.00. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The business has a 50 day simple moving average of $32.18 and a two-hundred day simple moving average of $30.63. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 8.00 and a beta of 1.24.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The firm's revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. On average, equities analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Monday, May 6th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 39.55%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and issued a $38.00 price target (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an "outperform" rating for the company in a research note on Wednesday, February 14th. Finally, Raymond James reiterated an "outperform" rating and set a $36.00 price target (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Bank of N.T. Butterfield & Son Company Profile

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.