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 Saturday.

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) opened at 34.47 on Friday. The stock has a 50 day moving average price of $33.35 and a 200-day moving average price of $33.38. Bank of N.T. Butterfield & Son Limited has a 12-month low of $23.75 and a 12-month high of $35.68. The firm has a market capitalization of $1.88 billion and a PE ratio of 22.49.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The business had revenue of $110.16 million during the quarter, compared to analyst estimates of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. On average, equities research analysts forecast that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Bank of N.T. Butterfield & Son Limited (The) (NTB) Lowered to “Hold” at Zacks Investment Research” was originally published by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2017/09/16/bank-of-n-t-butterfield-son-limited-the-ntb-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors and hedge funds 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% during the 2nd 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 in the last quarter. California State Teachers Retirement System boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 290.6% during the 2nd quarter. California State Teachers Retirement System now owns 95,300 shares of the bank’s stock worth $3,250,000 after acquiring an additional 70,900 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 349.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 38,646 shares of the bank’s stock worth $1,318,000 after acquiring an additional 30,055 shares in the last quarter. Southpoint Capital Advisors LP boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 28.9% during the 2nd quarter. Southpoint Capital Advisors LP now owns 1,200,000 shares of the bank’s stock worth $40,920,000 after acquiring an additional 268,861 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Bank of N.T. Butterfield & Son Limited (The) by 340.7% during the 2nd quarter. State Street Corp now owns 859,224 shares of the bank’s stock worth $29,300,000 after acquiring an additional 664,249 shares in the last quarter. 71.25% of the stock is owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Bank of N.T. Butterfield & Son Limited (The) (NTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Bank of N.T. Butterfield & Son Limited (The) 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 Limited (The) and related companies with MarketBeat.com's FREE daily email newsletter.