Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) Short Interest Up 17.2% in December

Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 348,800 shares, an increase of 17.2% from the December 15th total of 297,600 shares. Based on an average trading volume of 172,300 shares, the short-interest ratio is currently 2.0 days. Currently, 0.7% of the company’s stock are short sold.

NTB has been the subject of several analyst reports. Citigroup lowered Bank of N.T. Butterfield & Son from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $38.00 to $39.00 in a report on Thursday, January 9th. Zacks Investment Research raised Bank of N.T. Butterfield & Son from a “strong sell” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a report on Friday, November 8th. Finally, ValuEngine lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.80.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank bought a new stake in Bank of N.T. Butterfield & Son during the 3rd quarter valued at approximately $39,000. SRS Capital Advisors Inc. acquired a new stake in Bank of N.T. Butterfield & Son in the 3rd quarter valued at approximately $69,000. NumerixS Investment Technologies Inc bought a new position in Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $85,000. Tower Research Capital LLC TRC increased its position in Bank of N.T. Butterfield & Son by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,529 shares of the bank’s stock worth $120,000 after buying an additional 918 shares during the period. Finally, Bank of Montreal Can increased its position in Bank of N.T. Butterfield & Son by 514.0% in the 2nd quarter. Bank of Montreal Can now owns 5,489 shares of the bank’s stock worth $186,000 after buying an additional 4,595 shares during the period. 72.13% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son stock traded down $0.64 on Wednesday, reaching $35.55. 195,953 shares of the stock were exchanged, compared to its average volume of 147,089. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a twelve month low of $26.08 and a twelve month high of $41.84. The firm has a fifty day moving average price of $36.30 and a two-hundred day moving average price of $32.28. The stock has a market cap of $1.96 billion, a PE ratio of 10.07, a PEG ratio of 1.72 and a beta of 1.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.12). The business had revenue of $132.97 million during the quarter, compared to analyst estimates of $138.14 million. Bank of N.T. Butterfield & Son had a net margin of 32.27% and a return on equity of 22.09%. During the same period in the prior year, the business posted $0.88 earnings per share. Equities analysts anticipate that Bank of N.T. Butterfield & Son will post 3.7 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Company Profile

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 non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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