The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives Consensus Recommendation of “Buy” from Brokerages

The Bank of N.T. Butterfield & Son Limited (NYSE:NTBGet Free Report) has been assigned an average rating of “Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $35.80.

A number of analysts have commented on NTB shares. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Piper Sandler restated an “overweight” rating and set a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th.

View Our Latest Research Report on Bank of N.T. Butterfield & Son

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

A number of hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth $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 valued at $61,000 after buying an additional 1,889 shares in the last quarter. EMC Capital Management grew its holdings in shares of Bank of N.T. Butterfield & Son by 23.8% during the first quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock valued at $182,000 after buying an additional 1,092 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Bank of N.T. Butterfield & Son by 16.2% during the first quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock worth $206,000 after acquiring an additional 898 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth about $276,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 0.6 %

Shares of NYSE NTB opened at $34.34 on Tuesday. The stock has a market cap of $1.73 billion, a P/E ratio of 7.72 and a beta of 1.20. Bank of N.T. Butterfield & Son has a 52-week low of $24.62 and a 52-week high of $36.06. The firm has a 50 day moving average price of $34.39 and a two-hundred day moving average price of $32.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTBGet Free Report) last issued its quarterly earnings results 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. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The firm had revenue of $142.80 million for the quarter, compared to the consensus estimate of $137.28 million. During the same quarter in the previous year, the company earned $1.24 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 7th were given a dividend of $0.44 per share. The ex-dividend date was Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.13%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

About Bank of N.T. Butterfield & Son

(Get Free Report

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.

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

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