Rhumbline Advisers Reduces Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Rhumbline Advisers decreased its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 94,440 shares of the bank’s stock after selling 1,882 shares during the quarter. Rhumbline Advisers’ holdings in Bank of N.T. Butterfield & Son were worth $3,317,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $903,000. Vanguard Group Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son by 5.4% during the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock worth $28,910,000 after buying an additional 46,416 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the first quarter worth about $977,000. Dimensional Fund Advisors LP grew its holdings in shares of Bank of N.T. Butterfield & Son by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,453,670 shares of the bank’s stock worth $46,534,000 after buying an additional 25,383 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son by 14.1% during the second quarter. Principal Financial Group Inc. now owns 28,946 shares of the bank’s stock worth $1,017,000 after buying an additional 3,574 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Up 0.4 %

Shares of Bank of N.T. Butterfield & Son stock opened at $37.66 on Wednesday. The company has a fifty day moving average price of $37.22 and a 200 day moving average price of $34.45. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $24.62 and a twelve month high of $40.55. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 8.46 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. During the same quarter in the previous year, the business posted $1.14 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.55 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 Monday, August 19th. Shareholders of record on Monday, August 5th were issued a $0.44 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.67%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group raised their price target on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average price target of $39.40.

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.