Vaughan Nelson Investment Management L.P. Trims Holdings in Bank of N.T. Butterfield & Son Ltd (NTB)

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Vaughan Nelson Investment Management L.P. lowered its position in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,678,075 shares of the bank’s stock after selling 34,050 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Bank of N.T. Butterfield & Son were worth $52,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $116,000. Virtu Financial LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $275,000. First Hawaiian Bank bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $311,000. Jane Street Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $317,000. Finally, Iberiabank Corp bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $369,000. Institutional investors own 74.57% of the company’s stock.

Shares of Bank of N.T. Butterfield & Son stock traded down $0.51 during midday trading on Thursday, hitting $35.43. 25,508 shares of the company were exchanged, compared to its average volume of 220,401. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $1.94 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.48 and a beta of 1.84. Bank of N.T. Butterfield & Son Ltd has a 52 week low of $29.42 and a 52 week high of $53.63.

NTB has been the subject of a number of research reports. ValuEngine upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Wells Fargo & Co restated a “buy” rating and set a $45.00 target price on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 24th. Raymond James restated a “buy” rating on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 24th. Finally, Citigroup upgraded Bank of N.T. Butterfield & Son from a “neutral” rating to a “buy” rating and cut their target price for the stock from $43.00 to $42.00 in a research report on Tuesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Bank of N.T. Butterfield & Son has an average rating of “Buy” and an average target price of $50.50.

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Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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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 Ltd (NYSE:NTB).

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

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