The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Sees Significant Increase in Short Interest

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) was the recipient of a significant growth in short interest in 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. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 201,200 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently made changes to their positions in NTB. Point72 DIFC Ltd boosted its position in shares of Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock worth $50,000 after purchasing an additional 1,077 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son in the fourth quarter worth $72,000. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth $72,000. Quarry LP increased its holdings 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 valued at $95,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock worth $157,000 after purchasing an additional 2,666 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised 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 note 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 research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.80.

Bank of N.T. Butterfield & Son Stock Down 1.6 %

Shares of NTB stock traded down $0.62 during midday trading on Friday, reaching $38.70. 113,556 shares of the stock were exchanged, compared to its average volume of 189,964. Bank of N.T. Butterfield & Son has a 1 year low of $30.07 and a 1 year high of $41.88. The firm has a market cap of $1.84 billion, a PE ratio of 8.20 and a beta of 1.10. The company’s 50 day moving average is $38.19 and its two-hundred day moving average is $37.57. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data 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%. On average, equities research analysts predict that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son’s payout ratio 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.