Sapience Investments LLC Sells 9,740 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Sapience Investments LLC reduced its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 14.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,171 shares of the bank’s stock after selling 9,740 shares during the period. Sapience Investments LLC owned approximately 0.12% of Bank of N.T. Butterfield & Son worth $2,163,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. increased its position in Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock worth $157,000 after buying an additional 2,666 shares during the period. Point72 Asset Management L.P. increased its position in Bank of N.T. Butterfield & Son by 174.6% in the 4th quarter. Point72 Asset Management L.P. now owns 19,500 shares of the bank’s stock worth $713,000 after buying an additional 12,400 shares during the period. ProShare Advisors LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 42.2% during the 4th quarter. ProShare Advisors LLC now owns 12,500 shares of the bank’s stock worth $457,000 after purchasing an additional 3,709 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Bank of N.T. Butterfield & Son by 84.7% during the 4th quarter. Millennium Management LLC now owns 326,748 shares of the bank’s stock worth $11,943,000 after purchasing an additional 149,803 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $72,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE:NTB opened at $42.89 on Friday. The business’s 50 day moving average is $38.85 and its 200-day moving average is $37.99. 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 firm has a market capitalization of $2.04 billion, a PE ratio of 9.09 and a beta of 0.66. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $32.78 and a 1-year high of $43.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, beating the consensus estimate of $1.03 by $0.27. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. Bank of N.T. Butterfield & Son’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Sell-side analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, May 7th. Bank of N.T. Butterfield & Son’s payout ratio is presently 36.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTB. Wells Fargo & Company lifted their price objective 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 lifted their price objective on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, April 25th.

About Bank of N.T. Butterfield & Son

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.