The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives Average Recommendation of “Buy” from Brokerages

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have earned an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $39.40.

NTB has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. The Goldman Sachs Group increased their price target on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 11th.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

A number of hedge funds and other institutional investors have recently modified their holdings of NTB. ProShare Advisors LLC grew its position in shares of Bank of N.T. Butterfield & Son by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,725 shares of the bank’s stock valued at $279,000 after buying an additional 686 shares during the last quarter. SG Americas Securities LLC grew its position in Bank of N.T. Butterfield & Son by 16.2% during the 1st quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock worth $206,000 after purchasing an additional 898 shares during the last quarter. EMC Capital Management grew its position in Bank of N.T. Butterfield & Son by 23.8% during the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock worth $182,000 after purchasing an additional 1,092 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Bank of N.T. Butterfield & Son during the 1st quarter worth $44,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Bank of N.T. Butterfield & Son by 12.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858 shares of the bank’s stock worth $444,000 after acquiring an additional 1,576 shares during the period. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Trading Down 2.9 %

NYSE NTB opened at $37.52 on Friday. The company has a market capitalization of $1.89 billion, a PE ratio of 8.43 and a beta of 1.18. The company has a fifty day moving average of $37.30 and a 200 day moving average of $34.59. Bank of N.T. Butterfield & Son has a 1 year low of $24.62 and a 1 year high of $40.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The business had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Research analysts forecast that Bank of N.T. Butterfield & Son will post 4.55 earnings per share for the current year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a yield of 4.69%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

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.