Bank of N.T. Butterfield & Son (NTB) Rating Lowered to Hold at Zacks Investment Research

Bank of N.T. Butterfield & Son (NYSE:NTB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other analysts have also recently issued reports on the stock. Wells Fargo & Co raised shares of Bank of N.T. Butterfield & Son from a “market perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $38.00 price target on shares of Bank of N.T. Butterfield & Son in a research report on Sunday, October 8th. Finally, Citigroup cut shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, September 25th.

Shares of Bank of N.T. Butterfield & Son (NYSE NTB) opened at $40.25 on Wednesday. The stock has a market cap of $2,200.00 and a PE ratio of 21.88. Bank of N.T. Butterfield & Son has a 1 year low of $29.81 and a 1 year high of $40.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.60 and a current ratio of 0.60.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business had revenue of $112.49 million for the quarter, compared to analysts’ expectations of $111.66 million. Bank of N.T. Butterfield & Son had a net margin of 22.83% and a return on equity of 19.90%. research analysts expect that Bank of N.T. Butterfield & Son will post 2.82 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of NTB. Ameritas Investment Partners Inc. raised its holdings in Bank of N.T. Butterfield & Son by 376.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock valued at $161,000 after acquiring an additional 3,732 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Bank of N.T. Butterfield & Son by 7,428.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the bank’s stock valued at $195,000 after acquiring an additional 5,646 shares in the last quarter. Quantbot Technologies LP raised its holdings in Bank of N.T. Butterfield & Son by 20.6% in the second quarter. Quantbot Technologies LP now owns 6,087 shares of the bank’s stock valued at $207,000 after acquiring an additional 1,041 shares in the last quarter. Amalgamated Bank acquired a new stake in Bank of N.T. Butterfield & Son in the second quarter valued at approximately $242,000. Finally, SG Americas Securities LLC acquired a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $250,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

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About Bank of N.T. Butterfield & Son

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.

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