Short Interest in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Grows By 64.4%

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 251,600 shares, a growth of 64.4% from the February 28th total of 153,000 shares. Based on an average daily volume of 201,200 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.5% of the shares of the stock are sold short.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB stock traded up $0.27 during trading hours on Monday, hitting $38.95. 46,738 shares of the company’s stock were exchanged, compared to its average volume of 187,052. The stock’s 50-day moving average is $38.19 and its 200-day moving average is $37.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66. Bank of N.T. Butterfield & Son has a 52 week low of $30.07 and a 52 week high of $41.88. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 8.25 and a beta of 1.10.

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 for the quarter, topping 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%. As a group, research analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 37.29%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods raised 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 research report on Wednesday, February 12th. Wells Fargo & Company increased their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $271,000. Quantbot Technologies LP increased its stake in Bank of N.T. Butterfield & Son by 82.9% in the third quarter. Quantbot Technologies LP now owns 12,447 shares of the bank’s stock valued at $459,000 after purchasing an additional 5,640 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in Bank of N.T. Butterfield & Son in the third quarter worth $216,000. Martingale Asset Management L P boosted its position in shares of Bank of N.T. Butterfield & Son by 54.3% during the third quarter. Martingale Asset Management L P now owns 77,467 shares of the bank’s stock worth $2,857,000 after purchasing an additional 27,254 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son by 538.3% in the 3rd 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 period. 62.73% of the stock is owned by institutional investors and hedge funds.

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.