Wedge Capital Management L L P NC Boosts Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Wedge Capital Management L L P NC boosted its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,950 shares of the bank’s stock after purchasing an additional 1,893 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Bank of N.T. Butterfield & Son were worth $607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Meritage Portfolio Management lifted its stake in Bank of N.T. Butterfield & Son by 5.5% in the third quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock valued at $220,000 after buying an additional 425 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 304.3% in the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock valued at $234,000 after buying an additional 6,500 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at $268,000. D L Carlson Investment Group Inc. lifted its stake in Bank of N.T. Butterfield & Son by 32.4% in the third quarter. D L Carlson Investment Group Inc. now owns 11,455 shares of the bank’s stock valued at $310,000 after buying an additional 2,800 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at $320,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $34.07 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $30.86 and its two-hundred day moving average price is $29.85. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $22.93 and a 52 week high of $34.56. The stock has a market cap of $1.71 billion, a PE ratio of 7.66 and a beta of 1.29.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The firm had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. During the same period in the previous year, the business earned $1.24 earnings per share. Bank of N.T. Butterfield & Son’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.22 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 5.17%. The ex-dividend date is Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Wall Street Analyst Weigh In

NTB has been the topic of a number of recent research reports. Raymond James reiterated an “outperform” rating and issued a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. The Goldman Sachs Group lifted their price objective on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Piper Sandler restated an “overweight” rating and set a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Bank of N.T. Butterfield & Son 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 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.