Raymond James Financial Reaffirms "Outperform" Rating for Bank of N.T. Butterfield & Son (NYSE:NTB)

Raymond James Financial restated their outperform rating on shares of Bank of N.T. Butterfield & Son (NYSE:NTB - Free Report) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $50.00 target price on the bank's stock, up from their prior target price of $44.00.

Separately, Keefe, Bruyette & Woods raised 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 report on Friday, April 25th.

Bank of N.T. Butterfield & Son Trading Down 0.5%

NTB traded down $0.22 on Tuesday, hitting $45.97. The company had a trading volume of 135,821 shares, compared to its average volume of 185,425. The business's fifty day simple moving average is $42.80 and its 200 day simple moving average is $39.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. Bank of N.T. Butterfield & Son has a 12-month low of $33.04 and a 12-month high of $46.78. The company has a market cap of $2.18 billion, a PE ratio of 9.54 and a beta of 0.64.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced 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. The firm had revenue of $148.20 million during the quarter, compared to analysts' expectations of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 EPS. Equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 36.51%.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Several hedge funds have recently bought and sold shares of NTB. GAMMA Investing LLC lifted its position in shares of Bank of N.T. Butterfield & Son by 216.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock worth $52,000 after purchasing an additional 921 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $72,000. Quarry LP lifted its holdings in Bank of N.T. Butterfield & Son by 19.7% during the 4th quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after buying an additional 505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock worth $157,000 after acquiring an additional 2,666 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in Bank of N.T. Butterfield & Son in the first quarter worth approximately $201,000. Institutional investors own 62.73% of the company's stock.

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.