Bridgeway Capital Management LLC Boosts Stock Position in Bank of N.T. Butterfield & Son Limited (The) $NTB

Key Points

• Bridgeway Capital Management LLC increased its position in Bank of N.T. Butterfield & Son by 5.2%, owning 0.56% of the bank's stock valued at approximately $10.3 million after acquiring additional shares.
• Analysts have raised their price targets for Bank of N.T. Butterfield & Son, with Wells Fargo increasing it from $46.00 to $54.00, signifying growing optimism about the company's performance.
• The bank recently raised its quarterly dividend to $0.50 per share, which represents an annualized yield of 4.5%, up from the previous dividend of $0.44.

Bridgeway Capital Management LLC grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,261 shares of the bank's stock after buying an additional 13,200 shares during the period. Bridgeway Capital Management LLC owned 0.56% of Bank of N.T. Butterfield & Son worth $10,324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 10.0% during the 1st quarter. American Century Companies Inc. now owns 1,257,197 shares of the bank's stock valued at $48,930,000 after buying an additional 114,367 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 8.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank's stock valued at $38,679,000 after buying an additional 78,342 shares during the last quarter. Invesco Ltd. lifted its position in shares of Bank of N.T. Butterfield & Son by 1.7% during the 1st quarter. Invesco Ltd. now owns 883,728 shares of the bank's stock valued at $34,395,000 after buying an additional 14,840 shares during the last quarter. LSV Asset Management lifted its position in shares of Bank of N.T. Butterfield & Son by 53.9% during the 1st quarter. LSV Asset Management now owns 534,659 shares of the bank's stock valued at $20,809,000 after buying an additional 187,160 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Bank of N.T. Butterfield & Son by 0.5% during the 1st quarter. Northern Trust Corp now owns 384,835 shares of the bank's stock valued at $14,978,000 after buying an additional 1,829 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.

Analysts Set New Price Targets

NTB has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price target on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a "market perform" rating in a research report on Friday, July 11th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $50.00 price target (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of "Moderate Buy" and an average target price of $51.33.

Bank of N.T. Butterfield & Son Trading Down 0.0%

Shares of Bank of N.T. Butterfield & Son stock opened at $44.39 on Thursday. The firm has a market capitalization of $2.11 billion, a PE ratio of 8.91 and a beta of 0.67. The business's 50-day moving average price is $45.24 and its 200-day moving average price is $41.75. Bank of N.T. Butterfield & Son Limited has a 12 month low of $34.77 and a 12 month high of $46.89.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Monday, July 28th. The bank reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $146.30 million during the quarter, compared to analysts' expectations of $146.91 million. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.During the same period in the prior year, the business posted $1.09 EPS. As a group, analysts predict that 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a $0.50 dividend. The ex-dividend date was Monday, August 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Bank of N.T. Butterfield & Son's previous quarterly dividend of $0.44. Bank of N.T. Butterfield & Son's dividend payout ratio is 40.16%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.