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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 272,500 shares, a decrease of 16.9% from the June 30th total of 328,100 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily volume of 204,400 shares, the short-interest ratio is currently 1.3 days.

Bank of N.T. Butterfield & Son Stock Up 2.7 %

Shares of NTB traded up $1.01 during midday trading on Friday, reaching $39.10. 268,108 shares of the stock were exchanged, compared to its average volume of 225,819. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 8.79 and a beta of 1.20. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 12-month low of $24.62 and a 12-month high of $40.55. The firm has a 50 day simple moving average of $35.25 and a 200-day simple moving average of $32.74.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.04. The firm had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. Research analysts forecast that Bank of N.T. Butterfield & Son will post 4.55 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date is Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating and set a $38.00 price target (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Wells Fargo & Company lifted their target price on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Friday. The Goldman Sachs Group increased their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Raymond James restated an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter worth about $44,000. TFO Wealth Partners LLC boosted its position in Bank of N.T. Butterfield & Son by 18,890.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after purchasing an additional 1,889 shares during the period. CWM LLC grew its holdings in Bank of N.T. Butterfield & Son by 1,001.0% during the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after purchasing an additional 3,934 shares during the last quarter. Blue Trust Inc. bought a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at approximately $138,000. Finally, EMC Capital Management lifted its stake in shares of Bank of N.T. Butterfield & Son by 23.8% in the first quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock worth $182,000 after buying an additional 1,092 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

About Bank of N.T. Butterfield & Son

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.