The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Stock Holdings Raised by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,324 shares of the bank’s stock after purchasing an additional 2,680 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bank of N.T. Butterfield & Son were worth $986,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of NTB. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son in the fourth quarter valued at about $72,000. Quarry LP grew its position in shares of Bank of N.T. Butterfield & Son by 19.7% in the 4th quarter. Quarry LP now owns 3,069 shares of the bank’s stock worth $112,000 after acquiring an additional 505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock valued at $157,000 after acquiring an additional 2,666 shares during the last quarter. PDT Partners LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $217,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $219,000. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Down 0.9%

Bank of N.T. Butterfield & Son stock opened at $43.00 on Thursday. The Bank of N.T. Butterfield & Son Limited has a 52-week low of $32.96 and a 52-week high of $43.85. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 9.11 and a beta of 0.64. The firm has a 50-day moving average price of $40.36 and a two-hundred day moving average price of $38.60.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.27. The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 earnings per share. Sell-side analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.09%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son’s payout ratio is currently 36.51%.

Analysts Set New Price Targets

A number of equities analysts have commented on NTB shares. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Wells Fargo & Company raised their price target on shares of 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.

About Bank of N.T. Butterfield & Son

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.