Charles Schwab Investment Management Inc. Has $6.52 Million Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 29.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,357 shares of the bank’s stock after selling 74,835 shares during the period. Charles Schwab Investment Management Inc. owned 0.38% of Bank of N.T. Butterfield & Son worth $6,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter worth about $271,000. Quantbot Technologies LP lifted its position in shares of Bank of N.T. Butterfield & Son by 82.9% during the third quarter. Quantbot Technologies LP now owns 12,447 shares of the bank’s stock worth $459,000 after purchasing an additional 5,640 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter valued at $216,000. Martingale Asset Management L P increased its stake in shares of Bank of N.T. Butterfield & Son by 54.3% in the 3rd quarter. Martingale Asset Management L P now owns 77,467 shares of the bank’s stock valued at $2,857,000 after buying an additional 27,254 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Bank of N.T. Butterfield & Son by 538.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after acquiring an additional 260,168 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company increased their target price on 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $40.80.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $39.46 on Tuesday. The stock has a market cap of $1.88 billion, a P/E ratio of 8.36 and a beta of 1.10. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $30.07 and a 12 month high of $41.88. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $37.99 and a 200 day simple moving average of $37.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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, research analysts expect 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 announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a yield of 4.46%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 37.29%.

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.