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

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 report published on Friday, Benzinga reports. They currently have an overweight rating on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Piper Sandler restated an overweight rating and set a $38.00 price objective (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Raymond James restated an outperform rating and set a $36.00 price objective (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a buy rating in a research note 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.com, 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 Price Performance

NTB stock opened at $38.67 on Friday. The stock has a 50-day moving average price of $35.32 and a two-hundred day moving average price of $32.80. 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 current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.96 billion, a PE ratio of 8.69 and a beta of 1.20.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.04. The firm had revenue of $143.10 million during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, research analysts predict that Bank of N.T. Butterfield & Son will post 4.55 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 39.55%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the first quarter worth about $44,000. TFO Wealth Partners LLC lifted its stake in shares of 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 worth $61,000 after acquiring an additional 1,889 shares in the last quarter. Blue Trust Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son in the second quarter worth about $138,000. CWM LLC lifted its stake in shares of 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 worth $152,000 after acquiring an additional 3,934 shares in the last quarter. Finally, EMC Capital Management lifted its stake in shares of 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 worth $182,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors and hedge funds own 62.73% 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 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.