Adage Capital Partners GP L.L.C. increased its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 600,603 shares of the bank's stock after purchasing an additional 57,815 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.26% of Bank of N.T. Butterfield & Son worth $21,952,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NTB. Price T Rowe Associates Inc. MD raised its holdings in Bank of N.T. Butterfield & Son by 14.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,502 shares of the bank's stock worth $640,000 after purchasing an additional 2,267 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Bank of N.T. Butterfield & Son by 5.6% in the 4th quarter. Stifel Financial Corp now owns 8,273 shares of the bank's stock valued at $302,000 after purchasing an additional 441 shares during the period. XTX Topco Ltd bought a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth $567,000. Barclays PLC grew its stake in shares of Bank of N.T. Butterfield & Son by 9.9% during the fourth quarter. Barclays PLC now owns 66,762 shares of the bank's stock worth $2,440,000 after purchasing an additional 5,999 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Bank of N.T. Butterfield & Son by 9.6% in the fourth quarter. Sterling Capital Management LLC now owns 14,139 shares of the bank's stock valued at $517,000 after purchasing an additional 1,238 shares during the last quarter. 62.73% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on NTB shares. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Wells Fargo & Company boosted their price target on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th.
Get Our Latest Analysis on Bank of N.T. Butterfield & Son
Bank of N.T. Butterfield & Son Stock Up 1.3 %
NTB traded up $0.54 during trading hours on Friday, hitting $41.16. 66,504 shares of the company's stock were exchanged, compared to its average volume of 189,882. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 1-year low of $32.78 and a 1-year high of $41.88. The stock's 50-day moving average is $38.01 and its two-hundred day moving average is $37.71. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 8.72 and a beta of 0.82.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The company had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. During the same quarter last year, the company earned $1.17 EPS. Bank of N.T. Butterfield & Son's revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.
Bank of N.T. Butterfield & Son Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Wednesday, May 7th. Bank of N.T. Butterfield & Son's payout ratio is presently 36.51%.
About Bank of N.T. Butterfield & Son
(
Free Report)
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.
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