Brokerages Set Bank of N.T. Butterfield & Son Ltd (NTB) Price Target at $49.00

Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) has been given a consensus recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $49.00.

A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Raymond James reissued a “buy” rating on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 24th. TheStreet downgraded shares of Bank of N.T. Butterfield & Son from a “b-” rating to a “c” rating in a report on Wednesday, November 7th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $45.00 price objective on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 24th.

NTB stock opened at $39.68 on Thursday. The stock has a market cap of $2.17 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.87 and a beta of 1.60. Bank of N.T. Butterfield & Son has a 52 week low of $35.65 and a 52 week high of $53.63. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.16.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, October 24th. The bank reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $129.55 million for the quarter, compared to analysts’ expectations of $132.36 million. Bank of N.T. Butterfield & Son had a return on equity of 22.33% and a net margin of 35.65%. On average, equities analysts predict that Bank of N.T. Butterfield & Son will post 3.53 earnings per share for the current year.

The firm also recently announced a dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were given a dividend of $0.38 per share. The ex-dividend date was Friday, November 2nd. Bank of N.T. Butterfield & Son’s payout ratio is currently 13.29%.

A number of institutional investors and hedge funds have recently made changes to their positions in NTB. Manning & Napier Group LLC acquired a new position in Bank of N.T. Butterfield & Son during the third quarter worth about $31,164,000. Millennium Management LLC raised its position in Bank of N.T. Butterfield & Son by 238.4% during the second quarter. Millennium Management LLC now owns 711,794 shares of the bank’s stock worth $32,543,000 after acquiring an additional 501,431 shares during the last quarter. Capital International Investors acquired a new position in Bank of N.T. Butterfield & Son during the third quarter worth about $22,300,000. American Century Companies Inc. raised its position in Bank of N.T. Butterfield & Son by 241.7% during the second quarter. American Century Companies Inc. now owns 349,104 shares of the bank’s stock worth $15,961,000 after acquiring an additional 246,941 shares during the last quarter. Finally, BlackRock Inc. raised its position in Bank of N.T. Butterfield & Son by 7.4% during the second quarter. BlackRock Inc. now owns 2,540,108 shares of the bank’s stock worth $116,134,000 after acquiring an additional 174,380 shares during the last quarter. Institutional investors own 74.54% 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.

Read More: Conference Calls and Individual Investors

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

Receive News & Ratings for Bank of N.T. Butterfield & Son Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


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