ExodusPoint Capital Management LP Lowers Stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

ExodusPoint Capital Management LP cut its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,815 shares of the bank’s stock after selling 5,183 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Bank of N.T. Butterfield & Son were worth $1,419,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NTB. Trexquant Investment LP boosted its position in shares of Bank of N.T. Butterfield & Son by 68.7% during the 4th quarter. Trexquant Investment LP now owns 77,075 shares of the bank’s stock worth $2,817,000 after purchasing an additional 31,380 shares during the period. D L Carlson Investment Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 32.4% during the 4th quarter. D L Carlson Investment Group Inc. now owns 11,455 shares of the bank’s stock worth $419,000 after purchasing an additional 2,800 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $2,024,000. Norges Bank purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $5,700,000. Finally, Rovida Investment Management Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $65,568,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 3.1 %

NYSE NTB opened at $36.86 on Thursday. The firm has a market capitalization of $1.75 billion, a PE ratio of 7.81 and a beta of 0.82. The company has a 50-day simple moving average of $38.32 and a 200-day simple moving average of $37.55. The Bank of N.T. Butterfield & Son Limited has a one year low of $30.07 and a one year high of $41.88. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Monday, February 10th. The bank reported $1.34 EPS 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%. On average, equities analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share 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. Shareholders of record on Monday, February 24th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend was Monday, February 24th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.29%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NTB. Keefe, Bruyette & Woods lifted their price target 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 research note on Wednesday, February 12th. Wells Fargo & Company increased their price target on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.80.

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.