Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Rating Reaffirmed by Raymond James

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “outperform” rating reiterated by investment analysts at Raymond James in a report issued on Thursday, Benzinga reports. They presently have a $36.00 price target on the bank’s stock, up from their previous price target of $32.00. Raymond James’ price objective would suggest a potential upside of 5.66% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. Finally, Keefe, Bruyette & Woods cut their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Bank of N.T. Butterfield & Son Stock Down 0.1 %

Shares of NYSE:NTB opened at $34.07 on Thursday. The company has a fifty day moving average of $30.86 and a 200-day moving average of $29.85. The company has a market capitalization of $1.71 billion, a PE ratio of 7.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.66. Bank of N.T. Butterfield & Son has a 52-week low of $22.93 and a 52-week high of $34.56.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. The business had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. Bank of N.T. Butterfield & Son’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. On average, equities analysts predict that Bank of N.T. Butterfield & Son will post 4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently made changes to their positions in NTB. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Bank of N.T. Butterfield & Son by 66.7% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank’s stock worth $21,320,000 after acquiring an additional 266,450 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 46.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 156,733 shares of the bank’s stock worth $4,244,000 after acquiring an additional 49,913 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,854 shares of the bank’s stock worth $9,312,000 after acquiring an additional 22,495 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Bank of N.T. Butterfield & Son by 11.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank’s stock worth $47,843,000 after acquiring an additional 182,265 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Bank of N.T. Butterfield & Son by 0.4% in the 3rd quarter. Invesco Ltd. now owns 808,823 shares of the bank’s stock worth $21,903,000 after acquiring an additional 2,889 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.