Bank of N.T. Butterfield & Son Ltd (NTB) Given Consensus Rating of “Buy” by Brokerages

Shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) have earned a consensus rating of “Buy” from the eight research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $52.33.

NTB has been the subject of a number of research reports. ValuEngine cut Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. 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. Finally, Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Friday, July 13th.

Shares of NTB stock traded up $0.23 during trading hours on Friday, reaching $50.97. The company’s stock had a trading volume of 107,018 shares, compared to its average volume of 176,930. The company has a market cap of $2.81 billion, a PE ratio of 17.82, a P/E/G ratio of 2.34 and a beta of 0.58. Bank of N.T. Butterfield & Son has a fifty-two week low of $34.05 and a fifty-two week high of $53.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.61 and a current ratio of 0.61.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its 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 firm 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%. equities analysts predict that Bank of N.T. Butterfield & Son will post 3.65 EPS for the current fiscal year.

The company also recently declared a dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, August 6th were paid a $0.38 dividend. The ex-dividend date was Friday, August 3rd. Bank of N.T. Butterfield & Son’s payout ratio is 24.48%.

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 32.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 91,121 shares of the bank’s stock valued at $4,167,000 after acquiring an additional 22,370 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Bank of N.T. Butterfield & Son by 51.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 44,094 shares of the bank’s stock worth $2,016,000 after purchasing an additional 14,981 shares during the last quarter. Globeflex Capital L P raised its position in Bank of N.T. Butterfield & Son by 99.9% during the 2nd quarter. Globeflex Capital L P now owns 20,469 shares of the bank’s stock worth $936,000 after purchasing an additional 10,228 shares during the last quarter. Allianz Asset Management GmbH raised its position in Bank of N.T. Butterfield & Son by 33.6% during the 1st quarter. Allianz Asset Management GmbH now owns 160,403 shares of the bank’s stock worth $7,058,000 after purchasing an additional 40,303 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new position in Bank of N.T. Butterfield & Son during the 2nd quarter worth $338,000. Institutional investors own 72.87% 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.

Read More: Moving Average – How it Helps Investors in Stock Selection

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

Receive News & Ratings for Bank of N.T. Butterfield & Son Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply