Wells Fargo & Company MN Grows Stock Position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Wells Fargo & Company MN raised its position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,700 shares of the bank’s stock after purchasing an additional 4,451 shares during the period. Wells Fargo & Company MN owned about 0.07% of Bank of N.T. Butterfield & Son worth $1,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NTB. R Squared Ltd purchased a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $72,000. Raymond James Financial Inc. purchased a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $219,000. Handelsbanken Fonder AB purchased a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $230,000. Exchange Traded Concepts LLC purchased a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $291,000. Finally, Canoe Financial LP lifted its holdings in Bank of N.T. Butterfield & Son by 1,655.3% in the 4th quarter. Canoe Financial LP now owns 8,355 shares of the bank’s stock valued at $305,000 after purchasing an additional 7,879 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on NTB. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a “market perform” rating in a report on Friday.

Bank of N.T. Butterfield & Son Trading Up 2.7 %

NTB stock opened at $40.45 on Tuesday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 8.57 and a beta of 0.82. 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 business has a fifty day simple moving average of $37.91 and a 200-day simple moving average of $37.65. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $32.78 and a 52 week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.27. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. On average, equities research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.35%. Bank of N.T. Butterfield & Son’s payout ratio is 36.51%.

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.