Magnetar Financial LLC Purchases 7,932 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Magnetar Financial LLC boosted its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 43.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,278 shares of the bank's stock after purchasing an additional 7,932 shares during the period. Magnetar Financial LLC owned about 0.06% of Bank of N.T. Butterfield & Son worth $960,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NTB. Point72 DIFC Ltd boosted its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% in the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank's stock worth $50,000 after buying an additional 1,077 shares during the last quarter. R Squared Ltd bought a new position in Bank of N.T. Butterfield & Son in the fourth quarter worth approximately $72,000. Quarry LP boosted its stake in shares of Bank of N.T. Butterfield & Son by 223.7% during the 3rd quarter. Quarry LP now owns 2,564 shares of the bank's stock worth $95,000 after acquiring an additional 1,772 shares during the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at $216,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth $219,000. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Price Performance

NTB stock traded up $0.13 during trading on Wednesday, reaching $39.43. The company's stock had a trading volume of 109,007 shares, compared to its average volume of 181,317. The company's fifty day moving average is $38.05 and its 200-day moving average is $37.53. The Bank of N.T. Butterfield & Son Limited has a 1 year low of $30.07 and a 1 year high of $41.88. The company has a market capitalization of $1.87 billion, a P/E ratio of 8.35 and a beta of 1.10. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

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Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. On average, research analysts expect 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son's payout ratio is currently 37.29%.

Analysts Set New Price Targets

Several analysts have issued reports on NTB shares. Wells Fargo & Company boosted 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 report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted 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 research note on Wednesday, February 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

Bank of N.T. Butterfield & Son Company 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.