Zacks Investment Research Lowers The Bank of N.T. Butterfield & Son (NYSE:NTB) to Sell

Zacks Investment Research lowered shares of The Bank of N.T. Butterfield & Son (NYSE:NTB) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on the stock. BidaskClub cut shares of The Bank of N.T. Butterfield & Son from a strong-buy rating to a buy rating in a research note on Wednesday, December 16th. TheStreet upgraded shares of The Bank of N.T. Butterfield & Son from a c+ rating to a b- rating in a research note on Friday, November 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $28.00.

The Bank of N.T. Butterfield & Son stock opened at $31.16 on Wednesday. The company has a market cap of $1.68 billion, a P/E ratio of 10.86 and a beta of 2.00. The Bank of N.T. Butterfield & Son has a 1-year low of $13.76 and a 1-year high of $37.43. The company has a fifty day simple moving average of $31.74 and a 200 day simple moving average of $26.97. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.20.

The Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, November 4th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The business had revenue of $122.19 million during the quarter, compared to the consensus estimate of $120.05 million. The Bank of N.T. Butterfield & Son had a net margin of 27.50% and a return on equity of 16.10%. On average, equities research analysts forecast that The Bank of N.T. Butterfield & Son will post 2.89 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. lifted its stake in shares of The Bank of N.T. Butterfield & Son by 1.4% during the 2nd quarter. American International Group Inc. now owns 31,803 shares of the bank’s stock worth $776,000 after buying an additional 452 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of The Bank of N.T. Butterfield & Son by 7.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,758 shares of the bank’s stock worth $164,000 after buying an additional 492 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of The Bank of N.T. Butterfield & Son by 1.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,321 shares of the bank’s stock worth $1,188,000 after buying an additional 560 shares during the last quarter. US Bancorp DE lifted its stake in shares of The Bank of N.T. Butterfield & Son by 20.8% during the 3rd quarter. US Bancorp DE now owns 5,265 shares of the bank’s stock worth $117,000 after buying an additional 905 shares during the last quarter. Finally, Fiduciary Trust Co. lifted its stake in shares of The Bank of N.T. Butterfield & Son by 11.1% during the 3rd quarter. Fiduciary Trust Co. now owns 10,000 shares of the bank’s stock worth $223,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 57.68% of the company’s stock.

About The Bank of N.T. Butterfield & Son

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 certificate of 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.

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