Weiss Ratings Reiterates Buy (B) Rating for Bank of N.T. Butterfield & Son (NYSE:NTB)

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “buy (b)” rating reaffirmed by equities researchers at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other brokerages also recently commented on NTB. Keefe, Bruyette & Woods boosted their target price on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Friday, July 11th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $50.00 price objective (down previously from $54.00) on shares of Bank of N.T. Butterfield & Son in a research report on Monday, September 29th. Zacks Research upgraded Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $50.00 target price (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Bank of N.T. Butterfield & Son Stock Up 1.4%

Shares of NTB stock opened at $42.35 on Friday. The company has a market capitalization of $2.01 billion, a P/E ratio of 8.50 and a beta of 0.61. Bank of N.T. Butterfield & Son has a 12-month low of $34.77 and a 12-month high of $46.89. The firm has a 50-day moving average price of $43.70 and a 200 day moving average price of $43.13.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 28th. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $146.30 million for the quarter, compared to analysts’ expectations of $146.91 million. Bank of N.T. Butterfield & Son had a net margin of 27.05% and a return on equity of 21.16%. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, research analysts expect that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Institutional Investors 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 NTB. Quarry LP boosted its holdings in Bank of N.T. Butterfield & Son by 8.4% in the first quarter. Quarry LP now owns 3,327 shares of the bank’s stock valued at $129,000 after acquiring an additional 258 shares during the last quarter. Cerity Partners LLC lifted its position in Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after purchasing an additional 457 shares during the period. Schroder Investment Management Group boosted its stake in shares of Bank of N.T. Butterfield & Son by 0.9% in the 2nd quarter. Schroder Investment Management Group now owns 57,833 shares of the bank’s stock valued at $2,561,000 after purchasing an additional 511 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after buying an additional 523 shares during the period. Finally, AdvisorNet Financial Inc grew its position in shares of Bank of N.T. Butterfield & Son by 207.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 830 shares of the bank’s stock worth $37,000 after buying an additional 560 shares during the period. Institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.