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

Wells Fargo & Company MN increased its holdings in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 16.3% in the fourth quarter, Holdings Channel reports. The firm owned 31,700 shares of the bank’s stock after acquiring an additional 4,451 shares during the period. Wells Fargo & Company MN’s holdings in Bank of N.T. Butterfield & Son were worth $1,159,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NTB. R Squared Ltd purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth $72,000. Raymond James Financial Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth $219,000. Handelsbanken Fonder AB purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth $230,000. Exchange Traded Concepts LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth $291,000. Finally, Canoe Financial LP boosted its position 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 buying an additional 7,879 shares during the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective 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 research report on Friday. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $40.45 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The Bank of N.T. Butterfield & Son Limited has a one year low of $32.78 and a one year high of $41.88. The company’s 50-day simple moving average is $37.91 and its 200-day simple moving average is $37.65. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.57 and a beta of 0.82.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.89 million. During the same quarter last year, the company posted $1.17 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

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

Bank of N.T. Butterfield & Son Company Profile

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.