Lazard Asset Management LLC Buys New Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Lazard Asset Management LLC purchased a new position in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,979 shares of the bank’s stock, valued at approximately $72,000.

A number of other institutional investors also recently bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at $72,000. Quarry LP boosted its holdings in Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank’s stock valued at $112,000 after purchasing an additional 505 shares during the last quarter. PDT Partners LLC acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $217,000. Raymond James Financial Inc. acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth about $219,000. Finally, Handelsbanken Fonder AB purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $230,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Down 0.4%

NTB opened at $41.90 on Monday. The company has a fifty day moving average of $39.30 and a two-hundred day moving average of $38.17. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 8.88 and a beta of 0.66. The Bank of N.T. Butterfield & Son Limited has a fifty-two week low of $32.78 and a fifty-two week high of $43.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.27. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates 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%. Bank of N.T. Butterfield & Son’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 business earned $1.17 EPS. On average, research 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 business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.20%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son’s payout ratio is presently 36.51%.

Analyst Ratings Changes

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