Bank of N.T. Butterfield & Son Limited (The) (NTB) Rating Increased to Buy at Zacks Investment Research

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $36.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 10.06% from the stock’s current price.

According to Zacks, “The Bank of N.T. Butterfield & Son Limited offers bank and wealth management services. It provides retail and corporate banking products and services as well as wealth management solutions comprising trust, private banking and asset management. The company operates primarily in Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland and the United Kingdom. The Bank of N.T. Butterfield & Son Limited is headquartered in Hamilton, Bermuda. “

Bank of N.T. Butterfield & Son Limited (NYSE NTB) opened at 32.71 on Tuesday. Bank of N.T. Butterfield & Son Limited has a one year low of $23.75 and a one year high of $35.68. The firm has a market cap of $1.79 billion and a price-to-earnings ratio of 21.34. The firm has a 50 day moving average of $33.46 and a 200-day moving average of $33.32.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.67. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. The firm had revenue of $110.16 million for the quarter, compared to the consensus estimate of $109.32 million. Equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. Alps Advisors Inc. grew its position in Bank of N.T. Butterfield & Son Limited (The) by 0.3% in the second quarter. Alps Advisors Inc. now owns 14,423 shares of the bank’s stock worth $492,000 after acquiring an additional 37 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Bank of N.T. Butterfield & Son Limited (The) by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 21,476 shares of the bank’s stock worth $732,000 after acquiring an additional 243 shares in the last quarter. GSA Capital Partners LLP grew its position in Bank of N.T. Butterfield & Son Limited (The) by 2.5% in the second quarter. GSA Capital Partners LLP now owns 14,781 shares of the bank’s stock worth $504,000 after acquiring an additional 361 shares in the last quarter. First Interstate Bank grew its position in Bank of N.T. Butterfield & Son Limited (The) by 14.8% in the first quarter. First Interstate Bank now owns 7,330 shares of the bank’s stock worth $234,000 after acquiring an additional 945 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Bank of N.T. Butterfield & Son Limited (The) by 20.6% in the second quarter. Quantbot Technologies LP now owns 6,087 shares of the bank’s stock worth $207,000 after acquiring an additional 1,041 shares in the last quarter. 71.25% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Limited (The) Company Profile

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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

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