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 increased by research analysts at Wells Fargo & Company from $46.00 to $54.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price target would indicate a potential upside of 16.83% from the stock's current price.

A number of other research analysts have also weighed in on NTB. Raymond James Financial restated 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 report on Tuesday. Keefe, Bruyette & Woods raised their price target on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a "market perform" rating in a report on Friday, April 25th.

Bank of N.T. Butterfield & Son Price Performance

NTB stock traded down $0.61 during midday trading on Thursday, hitting $46.22. The company's stock had a trading volume of 95,660 shares, compared to its average volume of 185,001. 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 $46.89. The company has a 50 day moving average of $43.15 and a two-hundred day moving average of $39.60. 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 issued its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share 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 analyst estimates 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%. Bank of N.T. Butterfield & Son's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Rovida Investment Management Ltd purchased a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $65,568,000. American Century Companies Inc. raised its holdings in 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 period. Westwood Holdings Group Inc. lifted its position in Bank of N.T. Butterfield & Son by 8.6% in the first quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank's stock worth $38,679,000 after buying an additional 78,342 shares during the last quarter. Invesco Ltd. boosted its stake in Bank of N.T. Butterfield & Son by 1.7% during the first quarter. Invesco Ltd. now owns 883,728 shares of the bank's stock worth $34,395,000 after buying an additional 14,840 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in Bank of N.T. Butterfield & Son by 10.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 600,603 shares of the bank's stock valued at $21,952,000 after acquiring an additional 57,815 shares during the last quarter. 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.