Parvin Asset Management LLC Makes New $319,000 Investment in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Parvin Asset Management LLC acquired a new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,730 shares of the bank's stock, valued at approximately $319,000.

Several other hedge funds also recently added to or reduced their stakes in NTB. PDT Partners LLC purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth $217,000. Schonfeld Strategic Advisors LLC boosted its holdings in Bank of N.T. Butterfield & Son by 267.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 20,600 shares of the bank's stock worth $753,000 after buying an additional 15,000 shares in the last quarter. Northern Trust Corp increased its stake in Bank of N.T. Butterfield & Son by 22.0% in the 4th quarter. Northern Trust Corp now owns 383,006 shares of the bank's stock valued at $13,999,000 after purchasing an additional 69,066 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $1,754,000. Finally, Quarry LP grew its position in shares of Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after purchasing an additional 505 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Up 0.4 %

Shares of Bank of N.T. Butterfield & Son stock traded up $0.16 during trading hours on Monday, hitting $41.41. 55,044 shares of the company's stock traded hands, compared to its average volume of 189,254. The stock has a 50 day simple moving average of $38.05 and a 200-day simple moving average of $37.71. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $32.78 and a twelve month high of $41.88. The company has a market cap of $1.97 billion, a PE ratio of 8.78 and a beta of 0.66. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

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 firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. During the same period in the previous year, the company earned $1.17 earnings per share. Bank of N.T. Butterfield & Son's quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a yield of 4.25%. Bank of N.T. Butterfield & Son's payout ratio is currently 36.51%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their target price 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. Keefe, Bruyette & Woods increased their target price 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 report 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.