Bank of N.T. Butterfield & Son Ltd (NTB) Receives $52.33 Average PT from Brokerages

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Shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) have earned an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.33.

Several brokerages recently issued reports on NTB. Raymond James upped their target price on shares of Bank of N.T. Butterfield & Son from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Friday, July 13th. Finally, ValuEngine lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research report on Tuesday, May 29th.

Shares of NYSE:NTB opened at $52.23 on Tuesday. Bank of N.T. Butterfield & Son has a 52-week low of $31.36 and a 52-week high of $53.63. The firm has a market capitalization of $2.89 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.41 and a beta of 0.54. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.17.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Wednesday, July 25th. The bank reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 35.22% and a return on equity of 21.83%. The company had revenue of $129.34 million during the quarter, compared to analyst estimates of $126.52 million. sell-side analysts predict that Bank of N.T. Butterfield & Son will post 3.65 EPS for the current year.

The business also recently announced a dividend, which was paid on Friday, August 17th. Investors of record on Monday, August 6th were given a $0.38 dividend. The ex-dividend date of this dividend was Friday, August 3rd. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 24.48%.

A number of large investors have recently made changes to their positions in NTB. Guggenheim Capital LLC bought a new stake in Bank of N.T. Butterfield & Son in the fourth quarter worth $1,063,000. SG Americas Securities LLC bought a new stake in Bank of N.T. Butterfield & Son in the first quarter worth $240,000. Meeder Asset Management Inc. lifted its stake in Bank of N.T. Butterfield & Son by 95.5% in the first quarter. Meeder Asset Management Inc. now owns 7,144 shares of the bank’s stock worth $321,000 after purchasing an additional 3,490 shares during the last quarter. American Century Companies Inc. bought a new stake in Bank of N.T. Butterfield & Son in the first quarter worth $4,585,000. Finally, Prudential Financial Inc. lifted its stake in Bank of N.T. Butterfield & Son by 12.2% in the first quarter. Prudential Financial Inc. now owns 158,855 shares of the bank’s stock worth $7,130,000 after purchasing an additional 17,233 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

About 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 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.

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

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