Bank of N.T. Butterfield & Son’s (NTB) Outperform Rating Reaffirmed at Raymond James

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “outperform” rating reissued by analysts at Raymond James in a note issued to investors on Thursday, Benzinga reports. They presently have a $36.00 price target on the bank’s stock, up from their previous price target of $32.00. Raymond James’ price target suggests a potential upside of 5.66% from the stock’s current price.

Several other analysts also recently weighed in on NTB. Piper Sandler restated an “overweight” rating and issued a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday. Keefe, Bruyette & Woods decreased their price objective on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.80.

Bank of N.T. Butterfield & Son Stock Performance

NTB stock opened at $34.07 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.63. The business has a 50-day moving average price of $30.86 and a 200 day moving average price of $29.85. The company has a market capitalization of $1.71 billion, a P/E ratio of 7.66 and a beta of 1.29. Bank of N.T. Butterfield & Son has a 1-year low of $22.93 and a 1-year high of $34.56.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.21. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, equities research analysts forecast that Bank of N.T. Butterfield & Son will post 4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the third quarter worth about $384,000. Denali Advisors LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 0.6% during the third quarter. Denali Advisors LLC now owns 149,710 shares of the bank’s stock worth $4,054,000 after acquiring an additional 921 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the third quarter worth about $919,000. Roubaix Capital LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son during the third quarter worth about $3,080,000. Finally, Meritage Portfolio Management grew its stake in shares of Bank of N.T. Butterfield & Son by 5.5% during the third quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock worth $220,000 after acquiring an additional 425 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.