Bank of New York Mellon Corp Cuts Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Bank of New York Mellon Corp cut its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,155 shares of the bank’s stock after selling 7,392 shares during the period. Bank of New York Mellon Corp owned approximately 0.27% of Bank of N.T. Butterfield & Son worth $4,684,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its position in Bank of N.T. Butterfield & Son by 42.7% in the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after purchasing an additional 21,430 shares during the last quarter. Barclays PLC grew its position in shares of 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 acquiring an additional 44,641 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bank of N.T. Butterfield & Son by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock worth $41,476,000 after purchasing an additional 48,463 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at $230,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $359,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Up 0.1 %

NYSE:NTB opened at $37.93 on Tuesday. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $29.54 and a 1-year high of $41.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. The firm has a market capitalization of $1.80 billion, a P/E ratio of 8.04 and a beta of 1.10. The company’s fifty day moving average price is $37.70 and its 200-day moving average price is $37.49.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. As a group, equities research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.64%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

Analysts Set New Price Targets

Several analysts have recently commented on NTB shares. Wells Fargo & Company raised their price objective 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 report 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son 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.