Russell Investments Group Ltd. Decreases Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Russell Investments Group Ltd. reduced its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 46.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,098 shares of the bank’s stock after selling 38,736 shares during the period. Russell Investments Group Ltd.’s holdings in Bank of N.T. Butterfield & Son were worth $1,612,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. R Squared Ltd purchased a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $72,000. Raymond James Financial Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $219,000. Handelsbanken Fonder AB acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $230,000. Stifel Financial Corp raised its holdings in Bank of N.T. Butterfield & Son by 8.3% in the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock valued at $289,000 after acquiring an additional 602 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth $291,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $37.45 on Friday. 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 business has a 50 day moving average of $38.11 and a two-hundred day moving average of $37.55. The company has a market cap of $1.78 billion, a P/E ratio of 7.93 and a beta of 0.82. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $31.09 and a 52 week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, February 10th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.70%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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 Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” 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’s stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus 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.