Denali Advisors LLC Purchases 17,600 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Denali Advisors LLC raised its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Free Report) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,415 shares of the bank's stock after acquiring an additional 17,600 shares during the quarter. Bank of N.T. Butterfield & Son makes up approximately 0.7% of Denali Advisors LLC's holdings, making the stock its 28th biggest position. Denali Advisors LLC owned approximately 0.40% of Bank of N.T. Butterfield & Son worth $6,923,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 538.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank's stock valued at $11,377,000 after buying an additional 260,168 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 20.3% in the 3rd quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank's stock valued at $16,936,000 after buying an additional 77,334 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $2,769,000. Polaris Capital Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $2,039,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Bank of N.T. Butterfield & Son by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank's stock valued at $41,476,000 after buying an additional 48,463 shares during the last quarter. 62.73% of the stock is owned by institutional investors.

Remove Ads

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock traded down $0.21 during mid-day trading on Friday, hitting $38.73. 278,591 shares of the company's stock traded hands, compared to its average volume of 184,656. The firm has a 50 day simple moving average of $37.55 and a two-hundred day simple moving average of $37.43. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $29.06 and a fifty-two week high of $41.88. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 8.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (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 expect 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.54%. The ex-dividend date is Monday, February 24th. Bank of N.T. Butterfield & Son's payout ratio is 37.29%.

Wall Street Analysts Forecast Growth

NTB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased 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. Wells Fargo & Company increased their price objective 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.