Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

Bank of N.T. Butterfield & Son Limited (NTB) traded up 0.73% during mid-day trading on Friday, hitting $31.76. The company’s stock had a trading volume of 329,525 shares. Bank of N.T. Butterfield & Son Limited has a 52-week low of $23.75 and a 52-week high of $35.68. The stock has a market cap of $1.73 billion and a P/E ratio of 20.72. The company’s 50 day moving average is $33.46 and its 200-day moving average is $33.32.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. The business had revenue of $110.16 million during the quarter, compared to analyst estimates of $109.32 million. On average, equities analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 376.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock worth $161,000 after acquiring an additional 3,732 shares during the period. Quantbot Technologies LP bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth about $161,000. BNP Paribas Arbitrage SA boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 7,428.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the bank’s stock worth $195,000 after acquiring an additional 5,646 shares during the period. PNC Financial Services Group Inc. bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth about $190,000. Finally, Amalgamated Bank bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the second quarter worth about $242,000. 71.25% of the stock is owned by hedge funds and other institutional investors.

About Bank of N.T. Butterfield & Son Limited (The)

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.

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

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