Allspring Global Investments Holdings LLC Has $3.81 Million Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Allspring Global Investments Holdings LLC boosted its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,131 shares of the bank’s stock after purchasing an additional 2,927 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.22% of Bank of N.T. Butterfield & Son worth $3,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Thrivent Financial for Lutherans raised its stake in Bank of N.T. Butterfield & Son by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 1,172,819 shares of the bank’s stock valued at $43,254,000 after purchasing an additional 7,207 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Bank of N.T. Butterfield & Son by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock valued at $41,476,000 after purchasing an additional 48,463 shares in the last quarter. Victory Capital Management Inc. raised its stake in Bank of N.T. Butterfield & Son by 20.3% in the third quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank’s stock valued at $16,936,000 after purchasing an additional 77,334 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Bank of N.T. Butterfield & Son by 538.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock valued at $11,377,000 after purchasing an additional 260,168 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Bank of N.T. Butterfield & Son by 93.5% in the third quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after purchasing an additional 134,351 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank of N.T. Butterfield & Son Stock Down 0.7 %

Shares of NYSE NTB opened at $39.48 on Friday. The stock has a 50-day moving average price of $37.29 and a two-hundred day moving average price of $37.23. 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 company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 8.36 and a beta of 1.15.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.45% and a net margin of 25.93%. As a group, analysts forecast 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 will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, February 24th. Bank of N.T. Butterfield & Son’s payout ratio is presently 37.29%.

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.