Rovida Investment Management Ltd Purchases Shares of 1,793,437 The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Rovida Investment Management Ltd bought a new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,793,437 shares of the bank’s stock, valued at approximately $65,568,000. Bank of N.T. Butterfield & Son accounts for about 20.5% of Rovida Investment Management Ltd’s portfolio, making the stock its 2nd largest holding. Rovida Investment Management Ltd owned about 3.77% of Bank of N.T. Butterfield & Son as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd grew its stake 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 valued at $50,000 after buying an additional 1,077 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $72,000. Quarry LP lifted its position in shares of Bank of N.T. Butterfield & Son by 223.7% during the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after purchasing an additional 1,772 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at $216,000. Finally, Raymond James Financial Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at $219,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Up 3.0 %

Shares of Bank of N.T. Butterfield & Son stock opened at $39.46 on Tuesday. The business has a 50-day moving average price of $37.99 and a 200 day moving average price of $37.51. 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 firm has a market cap of $1.88 billion, a P/E ratio of 8.36 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.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast 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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NTB shares. Keefe, Bruyette & Woods lifted their target price on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son 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.