Several hedge funds have changed their investments in Bank of N.T. Butterfield & Son recently. For example, Point72 Asset Management bought shares worth about $63,000 and AQR Capital Management purchased $861,000 worth. Cubist Systematic Strategies increased their shares by 34.7%, now owning 118,469 shares valued at $4.16 million. Westwood Holdings invested approximately $31.9 million, and Denali Advisors raised their holdings by 6.7%. Overall, hedge funds hold 62.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Recent analyst reports offer mixed reviews on Bank of N.T. Butterfield & Son. Wells Fargo raised its target price from $40 to $43, labeling the stock as “overweight.” Keefe, Bruyette & Woods downgraded it to “market perform” with a target of $41. Goldman Sachs increased its target to $40 while rating the stock as a “buy.” Currently, one analyst rates it as a hold, while four recommend buying, giving an average target price of $39.60.
Get Our Latest Stock Analysis on NTB
Price Performance
As of Wednesday, shares opened at $38.35. The 50-day moving average is $36.86, while the 200-day average is $35.37. The company’s market cap is $1.93 billion, with a PE ratio of 8.62. The stock has fluctuated between a low of $24.62 and a high of $40.55 over the past year. For the last quarter, it reported an EPS of $1.09, exceeding expectations. Revenue grew by 0.4% year-over-year.
Dividend Announcement
The company announced a quarterly dividend of $0.44, paid on August 19th. This gives an annual yield of 4.59% with a payout ratio of 39.55%.
About the Company
Bank of N.T. Butterfield & Son focuses on providing community and commercial banking services including loans, mortgages, and deposit accounts.
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