Brokerages Set Bank of N.T. Butterfield & Son Ltd (NTB) PT at $52.20

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Shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) have received an average recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $52.20.

A number of research firms have recently weighed in on NTB. Zacks Investment Research downgraded Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet raised Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research note on Monday, September 17th. Finally, Raymond James increased their price target on Bank of N.T. Butterfield & Son from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, July 30th.

NTB stock opened at $50.90 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $2.84 billion, a PE ratio of 17.80, a P/E/G ratio of 2.37 and a beta of 0.63. Bank of N.T. Butterfield & Son has a twelve month low of $34.86 and a twelve month high of $53.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Wednesday, July 25th. The bank reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. The company had revenue of $129.34 million for the quarter, compared to the consensus estimate of $126.52 million. Bank of N.T. Butterfield & Son had a return on equity of 21.83% and a net margin of 35.22%. On average, analysts expect that Bank of N.T. Butterfield & Son will post 3.65 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTB. JPMorgan Chase & Co. increased its position in shares of Bank of N.T. Butterfield & Son by 1,707.7% in the 1st quarter. JPMorgan Chase & Co. now owns 239,596 shares of the bank’s stock valued at $10,753,000 after buying an additional 226,342 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Bank of N.T. Butterfield & Son by 25.2% during the 1st quarter. New York State Common Retirement Fund now owns 72,009 shares of the bank’s stock worth $3,232,000 after purchasing an additional 14,509 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Bank of N.T. Butterfield & Son by 84.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 666,444 shares of the bank’s stock worth $29,910,000 after purchasing an additional 304,693 shares in the last quarter. Citigroup Inc. increased its holdings in Bank of N.T. Butterfield & Son by 63.5% during the 1st quarter. Citigroup Inc. now owns 9,632 shares of the bank’s stock worth $424,000 after purchasing an additional 3,741 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Bank of N.T. Butterfield & Son by 58.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 68,751 shares of the bank’s stock worth $3,087,000 after purchasing an additional 25,323 shares in the last quarter. Institutional investors and hedge funds own 72.86% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

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 non-interest bearing deposits, as well as certificates of deposits. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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Analyst Recommendations for Bank of N.T. Butterfield & Son (NYSE:NTB)

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