Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $54.00

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 report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the bank's stock. Wells Fargo & Company's price objective points to a potential upside of 15.41% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective 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. Raymond James Financial reiterated 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.

Bank of N.T. Butterfield & Son Price Performance

NTB stock traded up $0.42 during midday trading on Thursday, hitting $46.79. The company's stock had a trading volume of 167,792 shares, compared to its average volume of 185,205. 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 firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.71 and a beta of 0.64. The company has a 50 day moving average of $43.03 and a two-hundred day moving average of $39.54. Bank of N.T. Butterfield & Son has a 12 month low of $33.04 and a 12 month high of $46.89.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The company 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 company earned $1.17 earnings per share. Bank of N.T. Butterfield & Son's revenue was up 3.8% on a year-over-year basis. On average, analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

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

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in 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 valued at $52,000 after acquiring an additional 921 shares in 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 approximately $72,000. Quarry LP grew its position 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. Point72 Asia Singapore Pte. Ltd. increased 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 during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Bank of N.T. Butterfield & Son during the first quarter worth approximately $201,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

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.