Trexquant Investment LP Purchases New Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Trexquant Investment LP bought a new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTBFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 28,216 shares of the bank’s stock, valued at approximately $903,000. Trexquant Investment LP owned approximately 0.06% of Bank of N.T. Butterfield & Son as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NTB. New York State Common Retirement Fund grew its stake in Bank of N.T. Butterfield & Son by 1.2% in the third quarter. New York State Common Retirement Fund now owns 79,509 shares of the bank’s stock worth $2,153,000 after purchasing an additional 931 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bank of N.T. Butterfield & Son by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,896 shares of the bank’s stock valued at $733,000 after acquiring an additional 1,183 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Bank of N.T. Butterfield & Son by 11.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 18,950 shares of the bank’s stock valued at $607,000 after acquiring an additional 1,893 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Bank of N.T. Butterfield & Son by 13.2% during the fourth quarter. Principal Financial Group Inc. now owns 19,292 shares of the bank’s stock worth $618,000 after purchasing an additional 2,254 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Bank of N.T. Butterfield & Son by 0.4% in the third quarter. Invesco Ltd. now owns 808,823 shares of the bank’s stock worth $21,903,000 after purchasing an additional 2,889 shares during the period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Trading Up 1.7 %

Shares of NYSE:NTB opened at $33.72 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $33.14 and its 200 day moving average price is $31.25. The company has a market cap of $1.69 billion, a PE ratio of 7.58 and a beta of 1.24. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $24.62 and a fifty-two week high of $36.06.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. The business had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The company’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Sell-side analysts anticipate 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date of this dividend was Monday, May 6th. Bank of N.T. Butterfield & Son’s payout ratio is currently 39.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NTB shares. Piper Sandler restated an “overweight” rating and issued a $38.00 price target (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Keefe, Bruyette & Woods cut their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. Finally, Raymond James restated an “outperform” rating and issued a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Read Our Latest Stock Analysis on Bank of N.T. Butterfield & Son

About Bank of N.T. Butterfield & Son

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Bank of N.T. Butterfield & Son (NYSE:NTB)

Receive News & Ratings for Bank of N.T. Butterfield & Son Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son and related companies with MarketBeat.com's FREE daily email newsletter.