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

Wedge Capital Management L L P NC lifted its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,691 shares of the bank’s stock after purchasing an additional 324 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bank of N.T. Butterfield & Son were worth $837,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Bank of N.T. Butterfield & Son by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after buying an additional 51,875 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at approximately $31,906,000. Vanguard Group Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 5.4% during the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after acquiring an additional 46,416 shares during the period. American Century Companies Inc. raised its holdings in Bank of N.T. Butterfield & Son by 31.7% during the second quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock worth $30,782,000 after purchasing an additional 211,147 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Bank of N.T. Butterfield & Son by 45.6% in the second quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after purchasing an additional 119,572 shares during the period. 62.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTB. Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $44.00 to $41.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Trading Up 0.3 %

Shares of NYSE NTB opened at $39.20 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 12 month low of $24.62 and a 12 month high of $40.55. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 8.81 and a beta of 1.18. The business has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $35.42.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The company had revenue of $143.10 million during the quarter, compared to analysts’ expectations of $139.75 million. During the same period last year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.45 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 4.49%. The ex-dividend date was Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 39.55%.

About Bank of N.T. Butterfield & Son

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. 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, as well as overdraft facilities to commercial and corporate customers.