Magnetar Financial LLC Buys 7,932 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Magnetar Financial LLC increased its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,278 shares of the bank’s stock after buying an additional 7,932 shares during the quarter. Magnetar Financial LLC owned 0.06% of Bank of N.T. Butterfield & Son worth $960,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NTB. Segall Bryant & Hamill LLC grew its holdings in Bank of N.T. Butterfield & Son by 3.5% during the third quarter. Segall Bryant & Hamill LLC now owns 142,666 shares of the bank’s stock worth $5,262,000 after buying an additional 4,796 shares in the last quarter. Jennison Associates LLC grew its holdings in Bank of N.T. Butterfield & Son by 22.7% during the third quarter. Jennison Associates LLC now owns 46,955 shares of the bank’s stock worth $1,732,000 after buying an additional 8,675 shares in the last quarter. Intech Investment Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the third quarter worth $271,000. Quantbot Technologies LP boosted its position in Bank of N.T. Butterfield & Son by 82.9% in the third quarter. Quantbot Technologies LP now owns 12,447 shares of the bank’s stock worth $459,000 after purchasing an additional 5,640 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC purchased a new position in Bank of N.T. Butterfield & Son in the third quarter worth $216,000. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $38.23 on Friday. The stock’s 50-day simple moving average is $37.91 and its 200 day simple moving average is $37.50. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $30.07 and a 52-week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. Research analysts forecast 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 company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.60%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 37.29%.

Analyst Upgrades and Downgrades

NTB has been the topic of several research analyst reports. Wells Fargo & Company boosted their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their price objective on Bank of N.T. Butterfield & Son from $41.00 to $44.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.