Analysts Set The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) PT at $39.40

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $39.40.

NTB has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of 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. Wells Fargo & Company raised their price target on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Several institutional investors and hedge funds have recently modified their holdings of NTB. Lazard Asset Management LLC purchased a new position in Bank of N.T. Butterfield & Son during the 1st quarter valued at about $44,000. Meeder Asset Management Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $56,000. Point72 Asset Management L.P. purchased a new position in Bank of N.T. Butterfield & Son during the 2nd quarter valued at about $63,000. TFO Wealth Partners LLC lifted its position in Bank of N.T. Butterfield & Son by 18,890.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after acquiring an additional 1,889 shares during the period. Finally, CWM LLC lifted its position in Bank of N.T. Butterfield & Son by 1,001.0% during the 2nd quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after acquiring an additional 3,934 shares during the period. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Price Performance

NTB stock opened at $36.75 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.67 and a current ratio of 0.67. Bank of N.T. Butterfield & Son has a 52 week low of $24.62 and a 52 week high of $40.55. The firm’s fifty day moving average is $37.07 and its 200 day moving average is $34.80. The firm has a market cap of $1.85 billion, a P/E ratio of 8.26 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $143.10 million for the quarter, compared to analyst estimates of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 EPS. Research analysts predict that Bank of N.T. Butterfield & Son will post 4.55 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a $0.44 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.76 annualized dividend and a dividend yield of 4.79%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 39.55%.

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.