Intech Investment Management LLC boosted its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 301.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,556 shares of the bank's stock after purchasing an additional 22,199 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Bank of N.T. Butterfield & Son worth $1,080,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of NTB. Jane Street Group LLC lifted its stake in Bank of N.T. Butterfield & Son by 42.7% in the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank's stock worth $2,639,000 after acquiring an additional 21,430 shares during the last quarter. Barclays PLC grew its holdings 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 worth $2,241,000 after purchasing an additional 44,641 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Bank of N.T. Butterfield & Son by 4.5% during the third 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 in the last quarter. Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $230,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at $359,000. Institutional investors and hedge funds own 62.73% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.
Check Out Our Latest Stock Analysis on Bank of N.T. Butterfield & Son
Bank of N.T. Butterfield & Son Price Performance
NTB stock traded up $0.13 during midday trading on Wednesday, hitting $39.43. 109,007 shares of the stock were exchanged, compared to its average volume of 181,317. 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 stock has a market cap of $1.87 billion, a price-to-earnings ratio of 8.35 and a beta of 1.10. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $30.07 and a fifty-two week high of $41.88. The stock's 50-day moving average price is $38.05 and its 200-day moving average price is $37.53.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. 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 was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.46%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is 37.29%.
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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