GAMMA Investing LLC boosted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 12,226.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,386 shares of the bank's stock after acquiring an additional 51,961 shares during the period. GAMMA Investing LLC owned about 0.11% of Bank of N.T. Butterfield & Son worth $2,039,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NTB. Rovida Investment Management Ltd acquired a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $65,568,000. American Century Companies Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 9.9% during the fourth quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank's stock valued at $41,770,000 after buying an additional 103,339 shares during the period. Davis Selected Advisers lifted its stake in shares of Bank of N.T. Butterfield & Son by 0.5% during the fourth quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank's stock valued at $39,343,000 after buying an additional 5,712 shares during the period. Invesco Ltd. lifted its stake in shares of Bank of N.T. Butterfield & Son by 3.3% during the fourth quarter. Invesco Ltd. now owns 868,888 shares of the bank's stock valued at $31,758,000 after buying an additional 27,619 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Bank of N.T. Butterfield & Son by 10.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 600,603 shares of the bank's stock valued at $21,952,000 after buying an additional 57,815 shares during the period. Institutional investors and hedge funds own 62.73% of the company's stock.
Bank of N.T. Butterfield & Son Stock Performance
Shares of NTB opened at $42.30 on Friday. 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 $2.01 billion, a price-to-earnings ratio of 8.96 and a beta of 0.64. The company's 50 day simple moving average is $40.63 and its 200 day simple moving average is $38.67. The Bank of N.T. Butterfield & Son Limited has a 1 year low of $32.96 and a 1 year high of $43.85.
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 EPS 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 firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. During the same quarter in the prior year, the business posted $1.17 earnings per share. Bank of N.T. Butterfield & Son's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.
Bank of N.T. Butterfield & Son Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.16%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is 36.51%.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods upped 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 research note on Friday, April 25th.
Check Out Our Latest Report on NTB
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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