Point72 Asset Management L.P. Boosts Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Point72 Asset Management L.P. lifted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 174.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,500 shares of the bank's stock after purchasing an additional 12,400 shares during the quarter. Point72 Asset Management L.P.'s holdings in Bank of N.T. Butterfield & Son were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NTB. Rovida Investment Management Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $65,568,000. Norges Bank purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $5,700,000. Millennium Management LLC boosted its holdings in 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 valued at $11,943,000 after acquiring an additional 149,803 shares during the period. LSV Asset Management boosted its holdings in Bank of N.T. Butterfield & Son by 63.8% during the 4th quarter. LSV Asset Management now owns 347,499 shares of the bank's stock valued at $12,701,000 after acquiring an additional 135,399 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 9.9% during the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock valued at $41,770,000 after acquiring an additional 103,339 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NTB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on 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 raised their target price on 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.

Bank of N.T. Butterfield & Son Stock Up 1.7%

NTB stock traded up $0.72 during mid-day trading on Tuesday, reaching $42.65. The company had a trading volume of 87,923 shares, compared to its average volume of 189,370. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.02 and a beta of 0.66. The firm has a fifty day simple moving average of $39.36 and a 200 day simple moving average of $38.20. 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.

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 for the quarter, topping 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 business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. During the same quarter last year, the company earned $1.17 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 36.51%.

Bank of N.T. Butterfield & Son Company 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.