The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Short Interest Update

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 251,600 shares, a growth of 64.4% from the February 28th total of 153,000 shares. Based on an average daily volume of 201,200 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.5% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NTB shares. Keefe, Bruyette & Woods upped their target price 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. Wells Fargo & Company raised their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Institutional Trading of Bank of N.T. Butterfield & Son

Institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its position in Bank of N.T. Butterfield & Son by 192.2% in the fourth quarter. Mackenzie Financial Corp now owns 18,281 shares of the bank's stock valued at $668,000 after purchasing an additional 12,024 shares during the period. PharVision Advisers LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $475,000. Voloridge Investment Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 14.3% during the fourth quarter. Voloridge Investment Management LLC now owns 44,757 shares of the bank's stock worth $1,636,000 after purchasing an additional 5,609 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Bank of N.T. Butterfield & Son by 190.7% in the fourth quarter. Two Sigma Advisers LP now owns 21,800 shares of the bank's stock valued at $797,000 after purchasing an additional 14,300 shares during the period. Finally, Two Sigma Investments LP grew its holdings in Bank of N.T. Butterfield & Son by 21.4% during the 4th quarter. Two Sigma Investments LP now owns 69,983 shares of the bank's stock valued at $2,558,000 after purchasing an additional 12,349 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

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

NTB stock traded up $0.16 during trading on Wednesday, reaching $39.08. 38,501 shares of the stock traded hands, compared to its average volume of 189,477. The firm has a market capitalization of $1.86 billion, a PE ratio of 8.28 and a beta of 1.10. 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 business's 50 day moving average price is $38.27 and its 200-day moving average price is $37.61. Bank of N.T. Butterfield & Son has a 52-week low of $30.07 and a 52-week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 37.29%.

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.