Short Interest in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Increases By 32.8%

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Rating) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 491,200 shares, a growth of 32.8% from the April 15th total of 369,900 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 158,000 shares, the days-to-cover ratio is presently 3.1 days.

Several hedge funds have recently added to or reduced their stakes in NTB. HM Payson & Co. increased its holdings in shares of Bank of N.T. Butterfield & Son by 100.0% in the 1st quarter. HM Payson & Co. now owns 1,000 shares of the bank’s stock worth $36,000 after acquiring an additional 500 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 26.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,831 shares of the bank’s stock worth $138,000 after acquiring an additional 793 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth about $196,000. Citigroup Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 92.2% in the 3rd quarter. Citigroup Inc. now owns 6,059 shares of the bank’s stock worth $214,000 after acquiring an additional 2,906 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth about $221,000.

Shares of NYSE:NTB traded down $0.65 on Wednesday, reaching $29.92. 956 shares of the company’s stock were exchanged, compared to its average volume of 143,909. Bank of N.T. Butterfield & Son has a fifty-two week low of $29.50 and a fifty-two week high of $41.69. The business’s 50-day moving average is $34.43 and its two-hundred day moving average is $36.93. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.20.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last issued its earnings results on Monday, May 2nd. The bank reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Bank of N.T. Butterfield & Son had a net margin of 31.87% and a return on equity of 17.93%. During the same quarter in the previous year, the business earned $0.83 EPS. Equities analysts anticipate that Bank of N.T. Butterfield & Son will post 3.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.88%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 53.01%.

Several research analysts have recently weighed in on NTB shares. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, May 6th. Raymond James increased their price objective on shares of Bank of N.T. Butterfield & Son from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Piper Sandler increased their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $47.00 in a research note on Wednesday, February 16th. Finally, StockNews.com assumed coverage on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of “Buy” and a consensus price target of $43.20.

About Bank of N.T. Butterfield & Son (Get Rating)

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, as well as certificate of deposits.

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