The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives $35.80 Average PT from Brokerages

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) has been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have covered the stock in the last year is $35.80.

NTB has been the subject of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price target (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Keefe, Bruyette & Woods decreased their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Finally, Raymond James reissued an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NTB. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the first quarter valued at $44,000. TFO Wealth Partners LLC grew its stake in Bank of N.T. Butterfield & Son by 18,890.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after buying an additional 1,889 shares during the last quarter. EMC Capital Management raised its holdings in Bank of N.T. Butterfield & Son by 23.8% in the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after acquiring an additional 1,092 shares during the period. SG Americas Securities LLC lifted its position in Bank of N.T. Butterfield & Son by 16.2% during the first quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock worth $206,000 after acquiring an additional 898 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 304.3% during the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock worth $234,000 after acquiring an additional 6,500 shares during the period. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 1.0 %

Shares of NYSE:NTB opened at $34.46 on Monday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 7.74 and a beta of 1.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 12 month low of $24.62 and a 12 month high of $36.06. The company’s fifty day simple moving average is $32.89 and its 200 day simple moving average is $31.03.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. The company had revenue of $142.80 million for the quarter, compared to analyst estimates 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%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, research analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

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 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.