Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) had its target price hoisted by investment analysts at Wells Fargo & Company from $46.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price target points to a potential upside of 16.83% from the stock's current price.

A number of other equities research analysts have also commented on the stock. Raymond James Financial restated an "outperform" rating and set a $50.00 price objective (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price target 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 note on Friday, April 25th.

Bank of N.T. Butterfield & Son Stock Down 1.3%

Shares of NYSE:NTB traded down $0.61 during midday trading on Thursday, reaching $46.22. 156,863 shares of the company were exchanged, compared to its average volume of 184,452. Bank of N.T. Butterfield & Son has a fifty-two week low of $33.04 and a fifty-two week high of $46.89. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $43.25 and a two-hundred day simple moving average of $39.70. The firm has a market cap of $2.20 billion, a PE ratio of 9.59 and a beta of 0.64.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.89 million. During the same period last year, the business posted $1.17 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake 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 purchasing an additional 921 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth about $72,000. Quarry LP increased its stake in shares of 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 worth $112,000 after purchasing an additional 505 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of Bank of N.T. Butterfield & Son by 164.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock worth $157,000 after purchasing an additional 2,666 shares during the last quarter. Finally, Longboard Asset Management LP acquired a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter worth about $210,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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.