Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $43.00 at Wells Fargo & Company

Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price boosted by Wells Fargo & Company from $40.00 to $43.00 in a research report report published on Friday morning, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Several other analysts have also recently weighed in on the company. Piper Sandler restated 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 report on Thursday, April 25th. Raymond James restated 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 report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price target on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a buy rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Bank of N.T. Butterfield & Son currently has a consensus rating of Moderate Buy and a consensus target price of $39.40.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $39.11 on Friday. Bank of N.T. Butterfield & Son has a 12-month low of $24.62 and a 12-month high of $40.55. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $35.25 and its two-hundred day moving average price is $32.73. The stock has a market cap of $1.91 billion, a PE ratio of 8.79 and a beta of 1.20.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The company had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $139.75 million. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, analysts expect that Bank of N.T. Butterfield & Son will post 4.55 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, August 5th. Bank of N.T. Butterfield & Son’s payout ratio is presently 39.55%.

Institutional Trading of Bank of N.T. Butterfield & Son

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son in the first quarter valued at approximately $44,000. TFO Wealth Partners LLC lifted its stake in Bank of N.T. Butterfield & Son by 18,890.0% in the fourth 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 period. Blue Trust Inc. acquired a new position in Bank of N.T. Butterfield & Son in the second quarter valued at approximately $138,000. CWM LLC lifted its stake in Bank of N.T. Butterfield & Son by 1,001.0% in the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after buying an additional 3,934 shares during the period. Finally, EMC Capital Management lifted its stake in Bank of N.T. Butterfield & Son by 23.8% in the first quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after buying an additional 1,092 shares during the period. 62.73% of the stock is currently owned by institutional investors.

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.