Keefe, Bruyette & Woods Boosts Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target to $50.00

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) had its price target boosted by 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 brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 7.01% from the stock's previous close.

Several other equities analysts also recently commented on the company. Wells Fargo & Company boosted their price objective 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. Raymond James Financial reissued an "outperform" rating and issued a $50.00 price target (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE NTB traded up $0.50 during trading on Friday, hitting $46.73. The company had a trading volume of 105,203 shares, compared to its average volume of 184,135. Bank of N.T. Butterfield & Son has a 12 month low of $33.04 and a 12 month high of $46.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market capitalization of $2.22 billion, a P/E ratio of 9.69 and a beta of 0.64. The stock has a 50 day simple moving average of $43.25 and a 200 day simple moving average of $39.70.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.27. The business had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.89 million. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, analysts anticipate that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NTB. AdvisorNet Financial Inc boosted its stake in Bank of N.T. Butterfield & Son by 207.4% during the second quarter. AdvisorNet Financial Inc now owns 830 shares of the bank's stock valued at $37,000 after buying an additional 560 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Bank of N.T. Butterfield & Son by 216.7% during the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock worth $52,000 after acquiring an additional 921 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $72,000. Quarry LP grew its holdings in shares of Bank of N.T. Butterfield & Son by 19.7% in the fourth quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after purchasing an additional 505 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock valued at $157,000 after purchasing an additional 2,666 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company's stock.

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.