Norges Bank Invests $22.25 Million in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Norges Bank acquired a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 714,161 shares of the bank’s stock, valued at approximately $22,253,000.

Several other institutional investors also recently bought and sold shares of NTB. Nuveen Asset Management LLC increased its position in shares of The Bank of N.T. Butterfield & Son by 53.6% during the fourth quarter. Nuveen Asset Management LLC now owns 944,005 shares of the bank’s stock worth $29,416,000 after acquiring an additional 329,295 shares during the period. Davis Selected Advisers increased its holdings in The Bank of N.T. Butterfield & Son by 7.8% in the fourth quarter. Davis Selected Advisers now owns 4,022,478 shares of the bank’s stock valued at $125,340,000 after buying an additional 290,617 shares during the last quarter. BlackRock Inc. increased its holdings in The Bank of N.T. Butterfield & Son by 6.8% in the fourth quarter. BlackRock Inc. now owns 2,548,153 shares of the bank’s stock valued at $79,399,000 after buying an additional 162,489 shares during the last quarter. Mendon Capital Advisors Corp purchased a new position in The Bank of N.T. Butterfield & Son in the fourth quarter valued at $2,649,000. Finally, JPMorgan Chase & Co. increased its holdings in The Bank of N.T. Butterfield & Son by 19.4% in the fourth quarter. JPMorgan Chase & Co. now owns 451,251 shares of the bank’s stock valued at $14,061,000 after buying an additional 73,404 shares during the last quarter. 63.48% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the company. Zacks Investment Research raised The Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, April 14th. Citigroup increased their target price on The Bank of N.T. Butterfield & Son from $35.00 to $39.00 in a report on Wednesday, April 14th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.60.

NYSE NTB opened at $37.70 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of N.T. Butterfield & Son Limited has a 1 year low of $17.27 and a 1 year high of $41.36. The company has a market capitalization of $2.03 billion, a PE ratio of 13.14 and a beta of 1.98. The company has a fifty day moving average of $38.44 and a two-hundred day moving average of $33.02.

The Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Thursday, February 11th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.11. The Bank of N.T. Butterfield & Son had a net margin of 27.50% and a return on equity of 16.10%. The company had revenue of $123.30 million during the quarter, compared to the consensus estimate of $122.27 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The Bank of N.T. Butterfield & Son’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 2.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 24th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, February 23rd. This represents a $1.76 annualized dividend and a dividend yield of 4.67%. The Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 47.70%.

About The Bank of N.T. Butterfield & Son

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 interest bearing and non-interest bearing deposits, as well as certificate of deposits.

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

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