Bank of N.T. Butterfield & Son (NTB) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son (NYSE:NTB) from a hold rating to a buy rating in a research note released on Friday morning. The firm currently has $41.00 price target on the bank’s stock.

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. “

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a buy rating and issued a $38.00 price target on shares of Bank of N.T. Butterfield & Son in a report on Sunday, October 8th. Citigroup downgraded Bank of N.T. Butterfield & Son from a buy rating to a neutral rating and set a $37.00 price target for the company. in a report on Monday, September 25th.

Shares of Bank of N.T. Butterfield & Son (NYSE NTB) opened at $37.85 on Friday. The firm has a market capitalization of $2,070.00 and a price-to-earnings ratio of 20.57. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a fifty-two week low of $29.81 and a fifty-two week high of $40.80.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The firm had revenue of $112.49 million during the quarter, compared to analysts’ expectations of $111.66 million. Bank of N.T. Butterfield & Son had a return on equity of 19.90% and a net margin of 22.83%. analysts anticipate that Bank of N.T. Butterfield & Son will post 2.82 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position in shares of Bank of N.T. Butterfield & Son by 10.2% in the 3rd quarter. GSA Capital Partners LLP now owns 16,292 shares of the bank’s stock worth $597,000 after purchasing an additional 1,511 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Bank of N.T. Butterfield & Son by 95.5% in the third quarter. California Public Employees Retirement System now owns 21,501 shares of the bank’s stock valued at $788,000 after acquiring an additional 10,501 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $288,000. Maltese Capital Management LLC grew its holdings in Bank of N.T. Butterfield & Son by 9.4% during the third quarter. Maltese Capital Management LLC now owns 430,000 shares of the bank’s stock worth $15,755,000 after purchasing an additional 37,000 shares during the period. Finally, Castine Capital Management LLC grew its holdings in Bank of N.T. Butterfield & Son by 18.4% during the third quarter. Castine Capital Management LLC now owns 345,000 shares of the bank’s stock worth $12,641,000 after purchasing an additional 53,695 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.com-unik.info/2018/01/09/bank-of-n-t-butterfield-son-ntb-raised-to-buy-at-zacks-investment-research.html.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

Get a free copy of the Zacks research report on Bank of N.T. Butterfield & Son (NTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Bank of N.T. Butterfield & Son? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Bank of N.T. Butterfield & Son and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit