Millennium Management LLC Buys 149,803 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Millennium Management LLC increased its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,748 shares of the bank's stock after purchasing an additional 149,803 shares during the period. Millennium Management LLC owned approximately 0.69% of Bank of N.T. Butterfield & Son worth $11,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth $72,000. Jacobs Levy Equity Management Inc. boosted its stake in Bank of N.T. Butterfield & Son by 1.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 313,188 shares of the bank's stock worth $11,447,000 after purchasing an additional 4,692 shares during the period. Deutsche Bank AG boosted its stake in Bank of N.T. Butterfield & Son by 34.0% in the 4th quarter. Deutsche Bank AG now owns 59,591 shares of the bank's stock worth $2,178,000 after purchasing an additional 15,106 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Bank of N.T. Butterfield & Son by 124.0% in the 4th quarter. Cubist Systematic Strategies LLC now owns 122,106 shares of the bank's stock worth $4,463,000 after purchasing an additional 67,593 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 18.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 252,061 shares of the bank's stock worth $9,213,000 after buying an additional 40,082 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Down 0.0%

Shares of Bank of N.T. Butterfield & Son stock traded down $0.00 during trading hours on Thursday, reaching $42.08. 15,792 shares of the company's stock were exchanged, compared to its average volume of 184,873. The company has a 50 day moving average of $39.52 and a two-hundred day moving average of $38.26. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $32.78 and a fifty-two week high of $43.09. 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 stock has a market cap of $2.00 billion, a P/E ratio of 8.91 and a beta of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.27. The company had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. Bank of N.T. Butterfield & Son's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. On average, sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were issued a $0.44 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.18%. Bank of N.T. Butterfield & Son's payout ratio is 36.51%.

Wall Street Analyst Weigh In

NTB has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th.

Bank of N.T. Butterfield & Son Profile

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.