Magnetar Financial LLC Acquires 7,932 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Magnetar Financial LLC lifted its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 43.2% during the 4th quarter, HoldingsChannel reports. The firm owned 26,278 shares of the bank’s stock after acquiring an additional 7,932 shares during the period. Magnetar Financial LLC’s holdings in Bank of N.T. Butterfield & Son were worth $960,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NTB. Point72 DIFC Ltd boosted its position in shares of Bank of N.T. Butterfield & Son by 370.1% during the third quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,077 shares in the last quarter. R Squared Ltd bought a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $72,000. Quarry LP boosted its position in shares of Bank of N.T. Butterfield & Son by 223.7% during the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,772 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the third quarter valued at approximately $216,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $219,000. 62.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NTB has been the topic of several analyst reports. Wells Fargo & Company boosted their target price 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 boosted their target price on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

NYSE NTB opened at $38.23 on Friday. The business has a 50-day moving average price of $37.91 and a 200-day moving average price of $37.50. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $30.07 and a twelve month high of $41.88. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 8.10 and a beta of 1.10. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) 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 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 annualized dividend and a dividend yield of 4.60%. Bank of N.T. Butterfield & Son’s payout ratio is 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.