Quadrature Capital Ltd Acquires Shares of 8,627 The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Quadrature Capital Ltd bought a new position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,627 shares of the bank’s stock, valued at approximately $276,000.

Several other large investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $10,909,000. Vaughan Nelson Investment Management L.P. boosted its stake in Bank of N.T. Butterfield & Son by 66.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank’s stock valued at $21,320,000 after buying an additional 266,450 shares in the last quarter. Mendon Capital Advisors Corp bought a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $7,202,000. Adage Capital Partners GP L.L.C. raised its position in Bank of N.T. Butterfield & Son by 11.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank’s stock valued at $47,843,000 after purchasing an additional 182,265 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Bank of N.T. Butterfield & Son by 20.8% in the third quarter. Vanguard Group Inc. now owns 810,156 shares of the bank’s stock valued at $21,939,000 after purchasing an additional 139,485 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Trading Up 0.7 %

NYSE NTB opened at $34.28 on Wednesday. The business has a 50 day simple moving average of $33.99 and a 200 day simple moving average of $31.97. The Bank of N.T. Butterfield & Son Limited has a one year low of $24.62 and a one year high of $36.06. The stock has a market capitalization of $1.72 billion, a P/E ratio of 7.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The business had revenue of $142.80 million during the quarter, compared to analysts’ expectations of $137.28 million. During the same quarter last year, the firm posted $1.24 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. Research analysts expect 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were paid a $0.44 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a yield of 5.13%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Raymond James restated an “outperform” rating and set a $36.00 price objective (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Bank of N.T. Butterfield & Son Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.