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

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. “

NTB has been the subject of several other research reports. Citigroup cut Bank of N.T. Butterfield & Son from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Monday, September 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 target price on shares of Bank of N.T. Butterfield & Son in a research report on Sunday, October 8th.

Shares of Bank of N.T. Butterfield & Son (NYSE:NTB) opened at $36.67 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.60 and a quick ratio of 0.60. Bank of N.T. Butterfield & Son has a 1 year low of $29.81 and a 1 year high of $40.80. The company has a market capitalization of $2,000.00 and a PE ratio of 19.93.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, October 25th. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.04. Bank of N.T. Butterfield & Son had a return on equity of 19.90% and a net margin of 22.83%. The firm had revenue of $112.49 million during the quarter, compared to analysts’ expectations of $111.66 million. sell-side analysts expect that Bank of N.T. Butterfield & Son will post 2.82 EPS for the current year.

Several large investors have recently added to or reduced their stakes in NTB. Russell Investments Group Ltd. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth about $1,151,000. Schwab Charles Investment Management Inc. boosted its stake in Bank of N.T. Butterfield & Son by 74.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 144,388 shares of the bank’s stock valued at $4,924,000 after buying an additional 61,751 shares during the last quarter. First Trust Advisors LP bought a new position in Bank of N.T. Butterfield & Son during the second quarter valued at approximately $372,000. Rhumbline Advisers boosted its stake in Bank of N.T. Butterfield & Son by 370.7% during the second quarter. Rhumbline Advisers now owns 58,954 shares of the bank’s stock valued at $2,010,000 after buying an additional 46,428 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Bank of N.T. Butterfield & Son by 136.7% during the second quarter. Bank of New York Mellon Corp now owns 192,964 shares of the bank’s stock valued at $6,464,000 after buying an additional 111,449 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

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Bank of N.T. Butterfield & Son Company Profile

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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