Wedge Capital Management L L P NC Buys 1,893 Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Wedge Capital Management L L P NC boosted its holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,950 shares of the bank’s stock after buying an additional 1,893 shares during the period. Wedge Capital Management L L P NC’s holdings in Bank of N.T. Butterfield & Son were worth $607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Meritage Portfolio Management lifted its position in Bank of N.T. Butterfield & Son by 5.5% in the 3rd quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock valued at $220,000 after acquiring an additional 425 shares in the last quarter. Denali Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 0.6% in the 3rd quarter. Denali Advisors LLC now owns 149,710 shares of the bank’s stock valued at $4,054,000 after acquiring an additional 921 shares in the last quarter. New York State Common Retirement Fund lifted its position in Bank of N.T. Butterfield & Son by 1.2% in the 3rd quarter. New York State Common Retirement Fund now owns 79,509 shares of the bank’s stock valued at $2,153,000 after acquiring an additional 931 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Bank of N.T. Butterfield & Son by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,896 shares of the bank’s stock valued at $733,000 after acquiring an additional 1,183 shares in the last quarter. Finally, D L Carlson Investment Group Inc. lifted its position in Bank of N.T. Butterfield & Son by 32.4% in the 3rd quarter. D L Carlson Investment Group Inc. now owns 11,455 shares of the bank’s stock valued at $310,000 after acquiring an additional 2,800 shares in the last quarter. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.1 %

NYSE:NTB opened at $34.07 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.63. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.66 and a beta of 1.29. The Bank of N.T. Butterfield & Son Limited has a one year low of $22.93 and a one year high of $34.56. The business has a fifty day moving average price of $30.86 and a 200-day moving average price of $29.85.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data 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 return on equity of 23.18% and a net margin of 27.95%. The firm had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the business posted $1.24 EPS. Bank of N.T. Butterfield & Son’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.22 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

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 paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a yield of 5.17%. Bank of N.T. Butterfield & Son’s payout ratio is presently 39.55%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. The Goldman Sachs Group boosted their target price 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. Finally, Raymond James reiterated an “outperform” rating and set a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus target price of $35.80.

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 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.