Point72 Asset Management L.P. Acquires 12,400 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Point72 Asset Management L.P. grew its stake in 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 Form 13F filing with the Securities and Exchange Commission. The fund owned 19,500 shares of the bank's stock after acquiring an additional 12,400 shares during the period. 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.

Other large investors also recently modified their holdings of the company. Rovida Investment Management Ltd bought a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $65,568,000. Norges Bank acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $5,700,000. Millennium Management LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 84.7% during the fourth quarter. Millennium Management LLC now owns 326,748 shares of the bank's stock worth $11,943,000 after buying an additional 149,803 shares during the last quarter. LSV Asset Management lifted its holdings in Bank of N.T. Butterfield & Son by 63.8% in the fourth quarter. LSV Asset Management now owns 347,499 shares of the bank's stock valued at $12,701,000 after buying an additional 135,399 shares during the period. Finally, American Century Companies Inc. boosted its stake in Bank of N.T. Butterfield & Son by 9.9% in the fourth 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 last quarter. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Trading Down 0.7%

NYSE:NTB traded down $0.29 during trading hours on Wednesday, hitting $42.34. The stock had a trading volume of 12,423 shares, compared to its average volume of 188,934. The business's 50 day moving average is $39.45 and its 200-day moving average is $38.23. 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 cap of $2.01 billion, a price-to-earnings ratio of 8.98 and a beta of 0.66. The Bank of N.T. Butterfield & Son Limited has a one year low of $32.78 and a one year high of $43.09.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly 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 net margin of 26.51% and a return on equity of 21.46%. The company had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. During the same period last year, the business earned $1.17 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts anticipate 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 36.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NTB. Wells Fargo & Company increased their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods increased 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 research note 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.