Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) had its price target hoisted by stock analysts at Keefe, Bruyette & Woods from $48.00 to $50.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective points to a potential upside of 8.17% from the company's previous close.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company lifted their target price on shares of Bank of N.T. Butterfield & Son from $46.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $50.00 price objective (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday.
Get Our Latest Research Report on NTB
Bank of N.T. Butterfield & Son Price Performance
NYSE:NTB traded down $0.61 during trading hours on Friday, hitting $46.22. The stock had a trading volume of 156,863 shares, compared to its average volume of 184,728. The company has a 50 day simple moving average of $43.25 and a two-hundred day simple moving average of $39.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65. Bank of N.T. Butterfield & Son has a one year low of $33.04 and a one year high of $46.89. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.59 and a beta of 0.64.
Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. During the same period last year, the firm earned $1.17 EPS. The business's quarterly revenue was up 3.8% compared to the same quarter last year. Research analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its holdings in Bank of N.T. Butterfield & Son by 5.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 109,717 shares of the bank's stock valued at $4,270,000 after buying an additional 5,586 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Bank of N.T. Butterfield & Son by 10.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock valued at $376,000 after purchasing an additional 918 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 valued at $52,000 after purchasing an additional 921 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth about $350,000. Finally, Two Sigma Advisers LP lifted its holdings in shares of Bank of N.T. Butterfield & Son by 190.7% in the 4th quarter. Two Sigma Advisers LP now owns 21,800 shares of the bank's stock worth $797,000 after acquiring an additional 14,300 shares during the last quarter. Institutional investors own 62.73% of the company's stock.
Bank of N.T. Butterfield & Son Company Profile
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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.
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