Bank of N.T. Butterfield & Son’s (NTB) Neutral Rating Reiterated at Citigroup

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “neutral” rating reissued by equities research analysts at Citigroup in a research report issued on Wednesday. They currently have a $42.00 target price on the bank’s stock. Citigroup’s price objective would indicate a potential upside of 5.50% from the company’s previous close.

A number of other brokerages have also recently commented on NTB. Zacks Investment Research cut Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Wells Fargo & Co raised Bank of N.T. Butterfield & Son from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Tuesday, January 9th.

Shares of Bank of N.T. Butterfield & Son (NTB) traded up $0.58 during trading on Wednesday, hitting $39.81. The company had a trading volume of 49,737 shares, compared to its average volume of 305,816. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a twelve month low of $29.81 and a twelve month high of $41.38. The firm has a market capitalization of $2,134.15, a PE ratio of 21.33, a PEG ratio of 1.93 and a beta of 1.67.

Large investors have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. grew its stake in Bank of N.T. Butterfield & Son by 85.9% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 4,713 shares of the bank’s stock valued at $171,000 after acquiring an additional 2,178 shares during the period. Ameritas Investment Partners Inc. grew its stake in Bank of N.T. Butterfield & Son by 376.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock valued at $161,000 after acquiring an additional 3,732 shares during the period. FNY Partners Fund LP grew its stake in Bank of N.T. Butterfield & Son by 472.1% in the fourth quarter. FNY Partners Fund LP now owns 5,000 shares of the bank’s stock valued at $181,000 after acquiring an additional 4,126 shares during the period. SG Americas Securities LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $250,000. Finally, Jane Street Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $288,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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About Bank of N.T. Butterfield & Son

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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