Wealth Enhancement Advisory Services LLC Raises Stock Position in Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) by 10.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,665 shares of the bank’s stock after purchasing an additional 918 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Bank of N.T. Butterfield & Son were worth $376,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NTB. Victory Capital Management Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 9.4% in the 4th quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank’s stock worth $18,363,000 after buying an additional 43,190 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $219,000. Intech Investment Management LLC grew its position in shares of Bank of N.T. Butterfield & Son by 301.7% in the 4th quarter. Intech Investment Management LLC now owns 29,556 shares of the bank’s stock worth $1,080,000 after buying an additional 22,199 shares during the period. Magnetar Financial LLC grew its position in shares of Bank of N.T. Butterfield & Son by 43.2% in the 4th quarter. Magnetar Financial LLC now owns 26,278 shares of the bank’s stock worth $960,000 after buying an additional 7,932 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Bank of N.T. Butterfield & Son by 44.6% in the 4th quarter. Quantbot Technologies LP now owns 17,994 shares of the bank’s stock worth $658,000 after buying an additional 5,547 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE:NTB opened at $46.34 on Monday. The firm’s 50 day moving average price is $42.69 and its 200-day moving average price is $39.38. Bank of N.T. Butterfield & Son Limited has a twelve month low of $33.04 and a twelve month high of $46.45. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.20 billion, a PE ratio of 9.61 and a beta of 0.64.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The company had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.89 million. During the same quarter last year, the business earned $1.17 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts expect that 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son’s payout ratio is currently 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.