Voya Investment Management LLC Decreases Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Voya Investment Management LLC lessened its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 47.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,340 shares of the bank's stock after selling 12,234 shares during the period. Voya Investment Management LLC's holdings in Bank of N.T. Butterfield & Son were worth $488,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Barclays PLC raised its position in Bank of N.T. Butterfield & Son by 276.9% during the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank's stock valued at $2,241,000 after purchasing an additional 44,641 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth $230,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $359,000. Bailard Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at $720,000. Finally, Ieq Capital LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $493,000. Hedge funds and other institutional investors own 62.73% of the company's stock.

Wall Street Analysts Forecast Growth

NTB has been the topic of a number of research reports. Keefe, Bruyette & Woods increased 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. Wells Fargo & Company boosted 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 research note on Wednesday, February 12th.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock traded up $0.45 during trading hours on Thursday, reaching $42.91. The company had a trading volume of 43,881 shares, compared to its average volume of 190,007. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $32.78 and a 12-month high of $43.14. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 9.10 and a beta of 0.66. The stock has a fifty day moving average of $38.59 and a 200-day moving average of $37.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.03 by $0.27. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates 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 business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. On average, equities analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 36.51%.

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.