Principal Financial Group Inc. Has $1.15 Million Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Principal Financial Group Inc. raised its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 8.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 31,342 shares of the bank’s stock after acquiring an additional 2,459 shares during the period. Principal Financial Group Inc. owned approximately 0.07% of Bank of N.T. Butterfield & Son worth $1,146,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Bank of N.T. Butterfield & Son by 2.4% during the fourth quarter. Rhumbline Advisers now owns 93,024 shares of the bank’s stock worth $3,400,000 after purchasing an additional 2,156 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Bank of N.T. Butterfield & Son by 2.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,131 shares of the bank’s stock worth $3,806,000 after acquiring an additional 2,927 shares in the last quarter. Polaris Capital Management LLC acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $2,039,000. Empowered Funds LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 19.2% in the fourth quarter. Empowered Funds LLC now owns 155,861 shares of the bank’s stock worth $5,697,000 after acquiring an additional 25,082 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 10.8% in the fourth quarter. Jennison Associates LLC now owns 52,016 shares of the bank’s stock worth $1,901,000 after acquiring an additional 5,061 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NYSE:NTB opened at $37.42 on Thursday. The Bank of N.T. Butterfield & Son Limited has a 12-month low of $29.06 and a 12-month high of $41.88. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 7.93 and a beta of 1.15. The stock’s 50 day moving average price is $37.62 and its two-hundred day moving average price is $37.50. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. On average, 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $0.44 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.76 annualized dividend and a yield of 4.70%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NTB shares. Wells Fargo & Company lifted their price target on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a “market perform” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Company Profile

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.