The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives $33.50 Average PT from Analysts

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have earned an average rating of “Buy” from the five analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $35.80.

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Raymond James reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. Piper Sandler reissued 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. Finally, The Goldman Sachs Group increased their target price on 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.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. TFO Wealth Partners LLC lifted its position in Bank of N.T. Butterfield & Son by 18,890.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after purchasing an additional 1,889 shares during the last quarter. Meritage Portfolio Management raised its holdings 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 valued at $220,000 after buying an additional 425 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 304.3% during the third quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock worth $234,000 after buying an additional 6,500 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $268,000. Finally, Quadrature Capital Ltd acquired a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $276,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB opened at $34.06 on Thursday. The stock has a market cap of $1.71 billion, a P/E ratio of 7.65 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. 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 firm has a 50-day moving average of $30.86 and a two-hundred day moving average of $29.87.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The company had revenue of $142.80 million during the quarter, compared to analysts’ expectations 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 business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. On average, research analysts expect that Bank of N.T. Butterfield & Son will post 4.22 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

Bank of N.T. Butterfield & Son Company Profile

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.