Summit Global Investments Sells 389 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Summit Global Investments trimmed its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 32,238 shares of the bank’s stock after selling 389 shares during the quarter. Summit Global Investments’ holdings in Bank of N.T. Butterfield & Son were worth $1,178,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 2.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank’s stock valued at $422,000 after purchasing an additional 300 shares during the period. Stifel Financial Corp increased its stake in Bank of N.T. Butterfield & Son by 8.3% in the 3rd quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after acquiring an additional 602 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Bank of N.T. Butterfield & Son by 1.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank’s stock worth $3,235,000 after acquiring an additional 971 shares during the last quarter. Point72 DIFC Ltd increased its stake in Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Quarry LP increased its stake in Bank of N.T. Butterfield & Son by 223.7% in the 3rd quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after acquiring an additional 1,772 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NTB shares. 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 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 note on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $38.23 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.82 billion, a PE ratio of 8.10 and a beta of 1.10. The business’s 50-day moving average price is $37.91 and its 200-day moving average price is $37.50. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $30.07 and a 12 month high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Monday, February 10th. The bank reported $1.34 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%. Sell-side analysts forecast 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $0.44 per share. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.60%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

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.