Alliancebernstein L.P. Sells 8,030 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Alliancebernstein L.P. trimmed its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 14.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 46,548 shares of the bank’s stock after selling 8,030 shares during the quarter. Alliancebernstein L.P.’s holdings in Bank of N.T. Butterfield & Son were worth $1,701,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Bank of N.T. Butterfield & Son by 42.7% in the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after purchasing an additional 21,430 shares during the period. Barclays PLC raised its position in shares of Bank of N.T. Butterfield & Son by 276.9% in the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after buying an additional 44,641 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bank of N.T. Butterfield & Son by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock worth $41,476,000 after acquiring an additional 48,463 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $230,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $359,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Up 0.6 %

Shares of NYSE:NTB opened at $37.45 on Friday. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $30.22 and a 52-week high of $41.88. The company has a market capitalization of $1.78 billion, a PE ratio of 7.93 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The company has a fifty day moving average of $38.17 and a 200-day moving average of $37.53.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (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%. On average, equities analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 37.29%.

Analyst Ratings Changes

Several research firms have weighed in on NTB. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company upped their price objective 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 issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.80.

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.