The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC boosted its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 189,415 shares of the bank’s stock after acquiring an additional 17,600 shares during the period. Bank of N.T. Butterfield & Son comprises approximately 0.7% of Denali Advisors LLC’s portfolio, making the stock its 28th largest 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 reporting period.

Several other large investors also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 538.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after acquiring an additional 260,168 shares during the last quarter. Victory Capital Management Inc. grew its position in Bank of N.T. Butterfield & Son by 20.3% during the 3rd quarter. Victory Capital Management Inc. now owns 459,210 shares of the bank’s stock worth $16,936,000 after purchasing an additional 77,334 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Bank of N.T. Butterfield & Son during the 3rd quarter worth $2,769,000. Polaris Capital Management LLC acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at $2,039,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Bank of N.T. Butterfield & Son by 4.5% in the third 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. Institutional investors and hedge funds own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NTB shares. Wells Fargo & Company raised their price target 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. Keefe, Bruyette & Woods lifted 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.80.

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

Shares of NYSE:NTB opened at $39.15 on Wednesday. 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 company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $37.38 and its 200-day simple moving average is $37.38. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 8.29 and a beta of 1.15.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data 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%. As a group, equities research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.50%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

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.