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

Summit Global Investments decreased its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,238 shares of the bank’s stock after selling 389 shares during the quarter. Summit Global Investments owned about 0.07% of Bank of N.T. Butterfield & Son worth $1,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NTB. Clear Harbor Asset Management LLC grew its holdings in Bank of N.T. Butterfield & Son by 2.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank’s stock worth $422,000 after buying an additional 300 shares in the last quarter. Stifel Financial Corp grew its holdings in Bank of N.T. Butterfield & Son by 8.3% during the third quarter. Stifel Financial Corp now owns 7,832 shares of the bank’s stock worth $289,000 after buying an additional 602 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Bank of N.T. Butterfield & Son by 1.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 88,519 shares of the bank’s stock worth $3,235,000 after buying an additional 971 shares in the last quarter. Point72 DIFC Ltd grew its holdings in Bank of N.T. Butterfield & Son by 370.1% during the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after buying an additional 1,077 shares in the last quarter. Finally, Quarry LP grew its holdings in Bank of N.T. Butterfield & Son by 223.7% during the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after buying an additional 1,772 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Down 0.7 %

NTB stock opened at $38.23 on Friday. The stock’s fifty day simple moving average is $37.91 and its two-hundred day simple moving average is $37.50. 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 Bank of N.T. Butterfield & Son Limited has a 1-year low of $30.07 and a 1-year high of $41.88. The stock has a market cap of $1.82 billion, a P/E ratio of 8.10 and a beta of 1.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping 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%. Analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared 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 of this dividend was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.60%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 37.29%.

Analyst Ratings Changes

Several brokerages recently issued reports on NTB. Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price target on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.80.

Bank of N.T. Butterfield & Son Company 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.