Hartford Investment Management Co. Reduces Holdings in Bank of N.T. Butterfield & Son Ltd (NTB)

Hartford Investment Management Co. reduced its position in Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) by 51.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,910 shares of the bank’s stock after selling 6,272 shares during the period. Hartford Investment Management Co.’s holdings in Bank of N.T. Butterfield & Son were worth $306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NTB. Manning & Napier Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth about $31,164,000. Millennium Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 238.4% during the 2nd quarter. Millennium Management LLC now owns 711,794 shares of the bank’s stock worth $32,543,000 after acquiring an additional 501,431 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 241.7% during the 2nd quarter. American Century Companies Inc. now owns 349,104 shares of the bank’s stock worth $15,961,000 after acquiring an additional 246,941 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 7.4% during the 2nd quarter. BlackRock Inc. now owns 2,540,108 shares of the bank’s stock worth $116,134,000 after acquiring an additional 174,380 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 38.5% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 612,551 shares of the bank’s stock worth $28,006,000 after acquiring an additional 170,425 shares in the last quarter. Institutional investors own 74.54% of the company’s stock.

Several research firms have recently issued reports on NTB. TheStreet downgraded Bank of N.T. Butterfield & Son from a “b-” rating to a “c” rating in a research note on Wednesday, November 7th. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research note on Saturday, October 6th. Raymond James decreased their target price on Bank of N.T. Butterfield & Son from $56.00 to $49.00 and set an “outperform” rating for the company in a research note on Monday, November 5th. Finally, 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 note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $50.50.

Shares of NYSE:NTB opened at $38.73 on Friday. Bank of N.T. Butterfield & Son Ltd has a twelve month low of $35.65 and a twelve month high of $53.63. The company has a market cap of $2.11 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.60. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.16.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Wednesday, October 24th. The bank reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). Bank of N.T. Butterfield & Son had a net margin of 35.65% and a return on equity of 22.33%. The business had revenue of $129.55 million for the quarter, compared to the consensus estimate of $132.36 million. On average, equities research analysts forecast that Bank of N.T. Butterfield & Son Ltd will post 3.53 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which was paid on Friday, November 16th. Investors of record on Monday, November 5th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, November 2nd. Bank of N.T. Butterfield & Son’s payout ratio is 13.29%.

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

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