The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,204 shares of the bank’s stock after selling 5,455 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.20% of Bank of N.T. Butterfield & Son worth $3,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NTB. Westwood Holdings Group Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $31,906,000. American Century Companies Inc. grew its stake in Bank of N.T. Butterfield & Son by 31.7% during the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock valued at $30,782,000 after acquiring an additional 211,147 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 45.6% during the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock valued at $13,411,000 after buying an additional 119,572 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter valued at about $2,905,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bank of N.T. Butterfield & Son by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after buying an additional 51,875 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 2.4 %

NTB opened at $37.68 on Tuesday. The business has a 50 day moving average price of $37.37 and a 200 day moving average price of $35.79. 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 company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Tuesday, October 22nd. The bank reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. The firm had revenue of $142.70 million during the quarter, compared to analyst estimates of $142.07 million. During the same period in the previous year, the company earned $1.16 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.52 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.67%. The ex-dividend date is Tuesday, November 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.20%.

Analyst Upgrades and Downgrades

NTB has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

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.