Cubist Systematic Strategies LLC Raises Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Cubist Systematic Strategies LLC lifted its position in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 124.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,106 shares of the bank’s stock after buying an additional 67,593 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Bank of N.T. Butterfield & Son were worth $4,463,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rovida Investment Management Ltd bought a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth about $65,568,000. Norges Bank bought a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $5,700,000. LSV Asset Management increased its holdings in Bank of N.T. Butterfield & Son by 63.8% during the fourth quarter. LSV Asset Management now owns 347,499 shares of the bank’s stock valued at $12,701,000 after buying an additional 135,399 shares during the period. American Century Companies Inc. raised its stake in Bank of N.T. Butterfield & Son by 9.9% in the fourth quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock worth $41,770,000 after buying an additional 103,339 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Bank of N.T. Butterfield & Son by 22.0% during the fourth quarter. Northern Trust Corp now owns 383,006 shares of the bank’s stock worth $13,999,000 after buying an additional 69,066 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NTB shares. Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their target price on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, April 25th.

Bank of N.T. Butterfield & Son Trading Up 0.2 %

NYSE:NTB opened at $41.07 on Friday. The firm has a 50 day moving average of $38.27 and a 200 day moving average of $37.82. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $32.78 and a 52 week high of $41.88. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 8.70 and a beta of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $140.89 million. During the same quarter last year, the firm earned $1.17 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 4.29%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 36.51%.

About Bank of N.T. Butterfield & Son

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.