Adage Capital Partners GP L.L.C. Grows Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Adage Capital Partners GP L.L.C. grew its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,603 shares of the bank's stock after acquiring an additional 57,815 shares during the quarter. Adage Capital Partners GP L.L.C. owned 1.26% of Bank of N.T. Butterfield & Son worth $21,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its position in shares of Bank of N.T. Butterfield & Son by 276.9% during the third quarter. Barclays PLC now owns 60,763 shares of the bank's stock valued at $2,241,000 after acquiring an additional 44,641 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Bank of N.T. Butterfield & Son by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank's stock worth $41,476,000 after purchasing an additional 48,463 shares during the period. Handelsbanken Fonder AB purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $230,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $359,000. Finally, Bailard Inc. bought a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at about $720,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB opened at $39.41 on Friday. The company has a market cap of $1.87 billion, a PE ratio of 8.35 and a beta of 0.82. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm's 50-day simple moving average is $37.90 and its two-hundred day simple moving average is $37.62. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $32.78 and a 52 week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data 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 company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. Research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 37.29%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NTB shares. Wells Fargo & Company boosted 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 research note on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price objective 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.

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.

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