Quadrature Capital Ltd Buys New Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Quadrature Capital Ltd acquired a new stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,627 shares of the bank’s stock, valued at approximately $276,000.

Several other large investors also recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. boosted its position in shares of Bank of N.T. Butterfield & Son by 11.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank’s stock valued at $47,843,000 after purchasing an additional 182,265 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Bank of N.T. Butterfield & Son by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,453,670 shares of the bank’s stock valued at $46,534,000 after buying an additional 25,383 shares in the last quarter. Vanguard Group Inc. lifted its stake in Bank of N.T. Butterfield & Son by 20.8% during the third quarter. Vanguard Group Inc. now owns 810,156 shares of the bank’s stock valued at $21,939,000 after buying an additional 139,485 shares in the last quarter. Invesco Ltd. lifted its stake in Bank of N.T. Butterfield & Son by 0.4% during the third quarter. Invesco Ltd. now owns 808,823 shares of the bank’s stock valued at $21,903,000 after buying an additional 2,889 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Bank of N.T. Butterfield & Son by 66.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank’s stock valued at $21,320,000 after buying an additional 266,450 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $34.28 on Wednesday. The firm has a market cap of $1.72 billion, a PE ratio of 7.70 and a beta of 1.19. The firm’s 50 day moving average price is $33.99 and its 200 day moving average price is $31.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The Bank of N.T. Butterfield & Son Limited has a twelve month low of $24.62 and a twelve month high of $36.06.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The firm had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same quarter last year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts expect 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 business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.76 annualized dividend and a yield of 5.13%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Raymond James reissued an “outperform” rating and issued a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

Bank of N.T. Butterfield & Son Company Profile

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.