Rovida Investment Management Ltd Acquires New Shares in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Rovida Investment Management Ltd bought a new position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 approximately 20.5% of Rovida Investment Management Ltd’s holdings, making the stock its 2nd largest position.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 9.9% during the fourth quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock worth $41,770,000 after acquiring an additional 103,339 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Bank of N.T. Butterfield & Son by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock valued at $41,476,000 after purchasing an additional 48,463 shares during the period. Davis Selected Advisers grew its position in Bank of N.T. Butterfield & Son by 0.5% in the 4th quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank’s stock worth $39,343,000 after purchasing an additional 5,712 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank’s stock valued at $18,363,000 after purchasing an additional 43,190 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings 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 valued at $11,377,000 after buying an additional 260,168 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NTB. Keefe, Bruyette & Woods raised 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 report on Wednesday, February 12th. Wells Fargo & Company raised their price target 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.80.

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

NTB opened at $39.46 on Tuesday. The stock’s fifty day moving average is $37.99 and its 200-day moving average is $37.51. The Bank of N.T. Butterfield & Son Limited has a one year low of $30.07 and a one year high of $41.88. The company has a market capitalization of $1.88 billion, a PE ratio of 8.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

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 net margin of 26.51% and a return on equity of 21.46%. On average, equities analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Monday, February 24th. Bank of N.T. Butterfield & Son’s payout ratio is 37.29%.

About Bank of N.T. Butterfield & Son

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.