The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 2.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 68,398 shares of the bank’s stock after selling 2,042 shares during the period. Massachusetts Financial Services Co. MA owned 0.14% of Bank of N.T. Butterfield & Son worth $2,500,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NTB. Rovida Investment Management Ltd acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at $65,568,000. American Century Companies Inc. grew its holdings in Bank of N.T. Butterfield & Son by 9.9% in the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock valued at $41,770,000 after buying an additional 103,339 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $41,476,000 after acquiring an additional 48,463 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of Bank of N.T. Butterfield & Son by 0.5% during the 4th quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank’s stock worth $39,343,000 after acquiring an additional 5,712 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Bank of N.T. Butterfield & Son by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank’s stock worth $18,363,000 after acquiring an additional 43,190 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

NTB opened at $35.65 on Wednesday. The company has a 50 day moving average of $38.32 and a two-hundred day moving average of $37.56. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $30.07 and a 52-week high of $41.88. 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 company has a market cap of $1.69 billion, a P/E ratio of 7.55 and a beta of 0.82.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts expect 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.94%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

Analyst Ratings Changes

A number of equities analysts have weighed in 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 note on Wednesday, February 12th. Wells Fargo & Company increased 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. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus 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.