The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,068 shares of the bank’s stock after selling 2,806 shares during the quarter. Corebridge Financial Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NTB. Point72 DIFC Ltd lifted its position in shares of Bank of N.T. Butterfield & Son by 370.1% during the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,077 shares during the last quarter. R Squared Ltd purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth about $72,000. Quarry LP lifted its stake in Bank of N.T. Butterfield & Son by 223.7% in the 3rd quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after acquiring an additional 1,772 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $219,000. Finally, Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $230,000. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Down 2.2 %

Shares of Bank of N.T. Butterfield & Son stock opened at $36.25 on Friday. The stock has a 50-day simple moving average of $38.36 and a 200-day simple moving average of $37.61. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $30.07 and a 52-week high of $41.88. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 7.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

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 4.86%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 37.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NTB. Keefe, Bruyette & Woods increased 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 lifted their target price 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.