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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) was the target of a large growth in short interest in the month of 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 presently 1.3 days. Approximately 0.5% of the company’s stock are sold short.

Bank of N.T. Butterfield & Son Stock Up 0.7 %

Shares of NTB traded up $0.27 during mid-day trading on Monday, hitting $38.95. 46,738 shares of the company’s stock were exchanged, compared to its average volume of 187,052. 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 company has a market cap of $1.85 billion, a PE ratio of 8.25 and a beta of 1.10. The company has a 50-day simple moving average of $38.19 and a 200 day simple moving average of $37.58.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its 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, research analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its holdings in Bank of N.T. Butterfield & Son by 42.7% during the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after buying an additional 21,430 shares during the last quarter. Barclays PLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 276.9% in the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after purchasing an additional 44,641 shares during the period. JPMorgan Chase & Co. lifted its stake in Bank of N.T. Butterfield & Son by 4.5% in 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 last quarter. Handelsbanken Fonder AB bought a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth about $230,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $359,000. Institutional investors own 62.73% of the company’s stock.

Analysts Set New Price Targets

NTB has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of 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. Wells Fargo & Company raised their price objective on shares of 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. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

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.