Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Increased to $29.00 by Analysts at Raymond James

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Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target increased by Raymond James from $26.00 to $29.00 in a report released on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. Citigroup upped their price target on shares of Bank of N.T. Butterfield & Son from $21.00 to $25.00 and gave the company a neutral rating in a report on Thursday, June 18th. Piper Sandler boosted their target price on Bank of N.T. Butterfield & Son from $30.00 to $32.00 and gave the company an overweight rating in a research report on Friday, July 24th. Wells Fargo & Co downgraded Bank of N.T. Butterfield & Son from an overweight rating to an equal weight rating and set a $25.00 price target on the stock. in a report on Tuesday, June 2nd. Zacks Investment Research cut Bank of N.T. Butterfield & Son from a hold rating to a sell rating in a report on Tuesday, June 30th. Finally, ValuEngine lowered Bank of N.T. Butterfield & Son from a hold rating to a sell rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $28.20.

Shares of Bank of N.T. Butterfield & Son stock opened at $26.03 on Tuesday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 8.16 and a beta of 2.21. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50 day moving average price of $24.60 and a 200-day moving average price of $25.08. Bank of N.T. Butterfield & Son has a one year low of $13.76 and a one year high of $38.05.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Bank of N.T. Butterfield & Son had a net margin of 28.51% and a return on equity of 17.47%. The company had revenue of $120.77 million during the quarter, compared to analyst estimates of $121.55 million. Sell-side analysts predict that Bank of N.T. Butterfield & Son will post 2.73 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend is Tuesday, August 4th.

Several large investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new position in shares of Bank of N.T. Butterfield & Son in the first quarter worth about $40,000. Nisa Investment Advisors LLC acquired a new position in Bank of N.T. Butterfield & Son in the 1st quarter worth about $51,000. Total Clarity Wealth Management Inc. acquired a new position in Bank of N.T. Butterfield & Son in the 4th quarter worth about $74,000. US Bancorp DE boosted its position in Bank of N.T. Butterfield & Son by 18.9% during the first quarter. US Bancorp DE now owns 4,360 shares of the bank’s stock worth $74,000 after purchasing an additional 694 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 13.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,266 shares of the bank’s stock valued at $106,000 after purchasing an additional 721 shares during the period. Institutional investors and hedge funds own 67.23% 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 deposit. 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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