Bank of N.T. Butterfield & Son Limited (The) $NTB Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,823 shares of the bank’s stock after selling 375 shares during the period. MetLife Investment Management LLC owned 0.05% of Bank of N.T. Butterfield & Son worth $1,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NTB. GAMMA Investing LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 216.7% in the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock valued at $52,000 after purchasing an additional 921 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $72,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock valued at $157,000 after purchasing an additional 2,666 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter valued at about $201,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $219,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE:NTB opened at $44.61 on Friday. The company has a market cap of $2.12 billion, a P/E ratio of 8.96 and a beta of 0.67. Bank of N.T. Butterfield & Son Limited has a one year low of $34.77 and a one year high of $46.89. The business’s 50-day simple moving average is $45.25 and its 200 day simple moving average is $41.82.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The business had revenue of $146.30 million for the quarter, compared to the consensus estimate 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 last year, the business posted $1.09 EPS. Analysts predict 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 business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 11th. This is an increase from Bank of N.T. Butterfield & Son’s previous quarterly dividend of $0.44. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 40.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NTB. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note 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 company a “market perform” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

About Bank of N.T. Butterfield & Son

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.