Bank of N.T. Butterfield & Son's (NTB) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "buy (b)" rating for Bank of N.T. Butterfield & Son (NTB), suggesting strong confidence in the bank's performance.
• The bank's stock has a current target price of $50.00, with other analysts like Keefe, Bruyette & Woods and Raymond James Financial also providing positive outlooks.
• As of the latest report, NTB has a market cap of $2.01 billion and reported earnings of $1.26 per share, surpassing previous estimates.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

NTB has been the topic of several other research reports. Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Friday, July 11th. Raymond James Financial reiterated an "outperform" rating and issued a $50.00 target price (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $50.00 target price (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research note on Monday, September 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $50.00.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB opened at $42.24 on Wednesday. The stock has a market cap of $2.01 billion, a PE ratio of 8.48 and a beta of 0.61. Bank of N.T. Butterfield & Son has a fifty-two week low of $34.77 and a fifty-two week high of $46.89. The firm's 50-day simple moving average is $44.47 and its two-hundred day simple moving average is $42.73.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The bank reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.11. The business had revenue of $146.30 million for the quarter, compared to analysts' expectations of $146.91 million. Bank of N.T. Butterfield & Son had a net margin of 27.05% and a return on equity of 21.16%. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities research analysts predict that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTB. GAMMA Investing LLC lifted its position in Bank of N.T. Butterfield & Son by 12,226.1% during the first quarter. GAMMA Investing LLC now owns 52,386 shares of the bank's stock valued at $2,039,000 after purchasing an additional 51,961 shares during the period. Wedge Capital Management L L P NC lifted its position in Bank of N.T. Butterfield & Son by 11.8% during the first quarter. Wedge Capital Management L L P NC now owns 25,324 shares of the bank's stock valued at $986,000 after purchasing an additional 2,680 shares during the period. SG Americas Securities LLC bought a new position in Bank of N.T. Butterfield & Son during the first quarter valued at approximately $350,000. Wealth Enhancement Advisory Services LLC raised its position in Bank of N.T. Butterfield & Son by 10.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,665 shares of the bank's stock worth $376,000 after acquiring an additional 918 shares during the period. Finally, Canoe Financial LP raised its position in Bank of N.T. Butterfield & Son by 54.6% in the first quarter. Canoe Financial LP now owns 12,916 shares of the bank's stock worth $503,000 after acquiring an additional 4,561 shares during the period. 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.

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