The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 4.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,726,711 shares of the bank’s stock after selling 74,760 shares during the period. Nuveen Asset Management LLC’s holdings in Bank of N.T. Butterfield & Son were worth $63,111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NTB. Barclays PLC boosted its stake in Bank of N.T. Butterfield & Son by 276.9% during the third quarter. Barclays PLC now owns 60,763 shares of the bank’s stock worth $2,241,000 after buying an additional 44,641 shares during the period. Clear Harbor Asset Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 2.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank’s stock worth $422,000 after purchasing an additional 300 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $291,000. R Squared Ltd acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth about $72,000. Finally, Jennison Associates LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 10.8% during the fourth quarter. Jennison Associates LLC now owns 52,016 shares of the bank’s stock worth $1,901,000 after purchasing an additional 5,061 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $42.89 on Monday. 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 stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 9.09 and a beta of 0.66. The firm’s fifty day simple moving average is $38.85 and its 200-day simple moving average is $38.01. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $32.78 and a 12 month high of $43.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.89 million. During the same period in the prior year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts forecast 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 4.10%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 36.51%.

Analyst Upgrades and Downgrades

NTB has been the topic of several research reports. Keefe, Bruyette & Woods increased their price target on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Wells Fargo & Company raised 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 report on Wednesday, February 12th.

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.