The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Short Interest Up 24.2% in January

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 290,600 shares, an increase of 24.2% from the December 31st total of 233,900 shares. Based on an average daily trading volume, of 164,500 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.6% of the company’s stock are short sold.

A number of research firms have commented on NTB. Zacks Investment Research cut The Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a research note on Wednesday, December 30th. TheStreet upgraded The Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a research note on Friday, November 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The Bank of N.T. Butterfield & Son presently has an average rating of “Hold” and an average price target of $28.00.

Several large investors have recently made changes to their positions in NTB. Nisa Investment Advisors LLC raised its stake in shares of The Bank of N.T. Butterfield & Son by 41.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock worth $64,000 after purchasing an additional 600 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of The Bank of N.T. Butterfield & Son in the third quarter worth about $75,000. US Bancorp DE raised its stake in shares of The Bank of N.T. Butterfield & Son by 20.8% in the third quarter. US Bancorp DE now owns 5,265 shares of the bank’s stock worth $117,000 after purchasing an additional 905 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of The Bank of N.T. Butterfield & Son by 7.9% in the second quarter. PNC Financial Services Group Inc. now owns 6,758 shares of the bank’s stock worth $164,000 after purchasing an additional 492 shares during the last quarter. Finally, Meridian Investment Counsel Inc. purchased a new position in shares of The Bank of N.T. Butterfield & Son in the fourth quarter worth about $215,000. Hedge funds and other institutional investors own 63.48% of the company’s stock.

Shares of NYSE:NTB traded up $0.02 during trading on Wednesday, hitting $31.20. The stock had a trading volume of 86,773 shares, compared to its average volume of 134,753. The Bank of N.T. Butterfield & Son has a 12-month low of $13.76 and a 12-month high of $35.50. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.87 and a beta of 1.98. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.20. The stock has a 50-day simple moving average of $32.29 and a two-hundred day simple moving average of $28.47.

The 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 certificate of deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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