Martingale Asset Management L P Buys 18,536 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Martingale Asset Management L P increased its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,003 shares of the bank's stock after acquiring an additional 18,536 shares during the quarter. Martingale Asset Management L P owned 0.20% of Bank of N.T. Butterfield & Son worth $3,509,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at $72,000. Raymond James Financial Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $219,000. Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $230,000. Point72 Asset Management L.P. lifted its position in shares of Bank of N.T. Butterfield & Son by 294.4% in the third quarter. Point72 Asset Management L.P. now owns 7,100 shares of the bank's stock worth $262,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Bank of N.T. Butterfield & Son by 5.1% during the fourth quarter. Legal & General Group Plc now owns 7,697 shares of the bank's stock worth $281,000 after purchasing an additional 374 shares during the period. Hedge funds and other institutional investors own 62.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTB. Keefe, Bruyette & Woods lifted their price target 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. Wells Fargo & Company raised 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 research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock traded up $0.66 on Tuesday, reaching $37.08. 27,611 shares of the company were exchanged, compared to its average volume of 191,174. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. The stock's fifty day moving average price is $38.22 and its 200 day moving average price is $37.53. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $30.07 and a 12 month high of $41.88. The firm has a market capitalization of $1.76 billion, a PE ratio of 7.86 and a beta of 0.82.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, beating 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%. On average, research analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a $0.44 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.76 annualized dividend and a yield of 4.75%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 37.29%.

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.