Bank of N.T. Butterfield & Son Limited (The) $NTB Position Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,745 shares of the bank’s stock after selling 323 shares during the period. Corebridge Financial Inc.’s holdings in Bank of N.T. Butterfield & Son were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of NTB. LSV Asset Management raised its holdings in shares of Bank of N.T. Butterfield & Son by 53.9% during the first quarter. LSV Asset Management now owns 534,659 shares of the bank’s stock worth $20,809,000 after acquiring an additional 187,160 shares in the last quarter. Millennium Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 84.7% in the fourth quarter. Millennium Management LLC now owns 326,748 shares of the bank’s stock worth $11,943,000 after buying an additional 149,803 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 10.0% in the first quarter. American Century Companies Inc. now owns 1,257,197 shares of the bank’s stock worth $48,930,000 after buying an additional 114,367 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 8.6% in the first quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank’s stock worth $38,679,000 after buying an additional 78,342 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Bank of N.T. Butterfield & Son by 22.0% in the fourth quarter. Northern Trust Corp now owns 383,006 shares of the bank’s stock worth $13,999,000 after buying an additional 69,066 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $44.61 on Friday. The business’s 50-day simple moving average is $45.25 and its 200-day simple moving average is $41.82. The firm has a market capitalization of $2.12 billion, a PE ratio of 8.96 and a beta of 0.67. Bank of N.T. Butterfield & Son Limited has a 52 week low of $34.77 and a 52 week high of $46.89.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, July 28th. The bank reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $146.30 million for the quarter, compared to analyst estimates of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same period in the previous year, the company posted $1.09 earnings per share. Research analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a dividend of $0.50 per share. This is a positive change from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 11th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 40.16%.

Analyst Ratings Changes

A number of analysts have weighed in on NTB shares. Wells Fargo & Company boosted their price target on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price target (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

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.