Bank of N.T. Butterfield & Son (NYSE:NTB) Rating Reiterated by Piper Sandler

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a report issued on Thursday, Benzinga reports. They presently have a $38.00 price target on the bank’s stock, up from their prior price target of $34.00. Piper Sandler’s price target indicates a potential upside of 11.54% from the stock’s current price.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group lifted their target price on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods dropped their target price on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.80.

Bank of N.T. Butterfield & Son Stock Down 0.1 %

Shares of NYSE:NTB opened at $34.07 on Thursday. The business has a 50-day moving average price of $30.86 and a 200 day moving average price of $29.85. The company has a current ratio of 0.66, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 7.66 and a beta of 1.29. Bank of N.T. Butterfield & Son has a 12-month low of $22.93 and a 12-month high of $34.56.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. Sell-side analysts expect that Bank of N.T. Butterfield & Son will post 4.12 EPS for the current year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. grew its position in shares of Bank of N.T. Butterfield & Son by 11.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank’s stock worth $47,843,000 after buying an additional 182,265 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Bank of N.T. Butterfield & Son by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,453,670 shares of the bank’s stock worth $46,534,000 after buying an additional 25,383 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 20.8% during the third quarter. Vanguard Group Inc. now owns 810,156 shares of the bank’s stock worth $21,939,000 after buying an additional 139,485 shares in the last quarter. Invesco Ltd. grew its position in shares of Bank of N.T. Butterfield & Son by 0.4% during the third quarter. Invesco Ltd. now owns 808,823 shares of the bank’s stock worth $21,903,000 after buying an additional 2,889 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Bank of N.T. Butterfield & Son by 66.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank’s stock worth $21,320,000 after purchasing an additional 266,450 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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.