Alliancebernstein L.P. Takes Position in Bank of N.T. Butterfield & Son Limited (The) (NTB)

Alliancebernstein L.P. bought a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) during the first quarter, Holdings Channel reports. The institutional investor bought 15,000 shares of the bank’s stock, valued at approximately $479,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $5,069,000. Nationwide Fund Advisors increased its position in Bank of N.T. Butterfield & Son Limited (The) by 349.8% in the first quarter. Nationwide Fund Advisors now owns 22,601 shares of the bank’s stock valued at $721,000 after buying an additional 17,576 shares in the last quarter. Prudential Financial Inc. purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $1,748,000. Stifel Financial Corp purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $3,190,000. Finally, Parametric Portfolio Associates LLC purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $678,000. 65.16% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Limited (NYSE NTB) opened at 34.13 on Thursday. Bank of N.T. Butterfield & Son Limited has a 12 month low of $23.75 and a 12 month high of $35.68. The stock’s 50 day moving average price is $34.35 and its 200-day moving average price is $33.35. The firm has a market capitalization of $1.86 billion and a P/E ratio of 22.26.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 EPS for the quarter, hitting analysts’ consensus estimates of $0.67. The company had revenue of $110.16 million for the quarter, compared to the consensus estimate of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. On average, analysts forecast that Bank of N.T. Butterfield & Son Limited will post $2.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.75%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio (DPR) is currently 84.21%.

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Separately, Zacks Investment Research raised Bank of N.T. Butterfield & Son Limited (The) from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, April 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Bank of N.T. Butterfield & Son Limited (The) currently has a consensus rating of “Buy” and a consensus price target of $32.25.

Bank of N.T. Butterfield & Son Limited (The) Company Profile

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

Want to see what other hedge funds are holding NTB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB).

Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

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