The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Short Interest Update

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 251,600 shares, an increase of 64.4% from the February 28th total of 153,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 201,200 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NTB. Rovida Investment Management Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth $65,568,000. Jacobs Levy Equity Management Inc. increased its position in Bank of N.T. Butterfield & Son by 538.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after buying an additional 260,168 shares in the last quarter. Norges Bank bought a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $5,700,000. Millennium Management LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 84.7% during the 4th quarter. Millennium Management LLC now owns 326,748 shares of the bank’s stock valued at $11,943,000 after buying an additional 149,803 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Bank of N.T. Butterfield & Son by 63.8% during the 4th quarter. LSV Asset Management now owns 347,499 shares of the bank’s stock valued at $12,701,000 after acquiring an additional 135,399 shares during the period. 62.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE NTB traded down $0.62 during midday trading on Friday, hitting $38.70. 113,556 shares of the stock traded hands, compared to its average volume of 189,964. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.20 and a beta of 1.10. Bank of N.T. Butterfield & Son has a one year low of $30.07 and a one year high of $41.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The firm has a 50-day moving average of $38.19 and a two-hundred day moving average of $37.57.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts forecast that Bank of N.T. Butterfield & Son 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. Shareholders of record on Monday, February 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a yield of 4.55%. Bank of N.T. Butterfield & Son’s dividend 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.