Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $30.00.

Separately, Zacks Investment Research downgraded Bank of N.T. Butterfield & Son Limited (The) from a “buy” rating to a “hold” rating in a research report on Saturday, September 2nd.

Shares of Bank of N.T. Butterfield & Son Limited (NYSE:NTB) traded up 0.64% during mid-day trading on Friday, hitting $34.47. 425,635 shares of the stock were exchanged. The stock’s 50 day moving average is $33.35 and its 200 day moving average is $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 cap of $1.88 billion and a P/E ratio of 22.49.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $109.32 million. Analysts expect that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Thursday, August 10th. Bank of N.T. Butterfield & Son Limited (The)’s payout ratio is 84.21%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 5,243,298 shares of the bank’s stock worth $167,314,000 after buying an additional 160,828 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the 1st quarter worth $3,190,000. Prudential Financial Inc. bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the 1st quarter worth $1,748,000. Parametric Portfolio Associates LLC bought a new position in shares of Bank of N.T. Butterfield & Son Limited (The) during the 1st quarter worth $678,000. Finally, Nationwide Fund Advisors grew its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 349.8% during the 1st quarter. Nationwide Fund Advisors now owns 22,601 shares of the bank’s stock worth $721,000 after buying an additional 17,576 shares in the last quarter. 71.25% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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