Bank of N.T. Butterfield & Son (NYSE:NTB) PT Raised to $40.00

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target increased by The Goldman Sachs Group from $35.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 9.59% from the company’s current price.

NTB has been the subject of a number of other reports. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Bank of N.T. Butterfield & Son Trading Up 2.4 %

Shares of NTB traded up $0.84 during trading hours on Thursday, hitting $36.50. 72,204 shares of the stock were exchanged, compared to its average volume of 203,936. The firm has a market capitalization of $1.73 billion, a P/E ratio of 8.20 and a beta of 1.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66. Bank of N.T. Butterfield & Son has a fifty-two week low of $24.62 and a fifty-two week high of $36.50. The business has a 50-day moving average of $34.43 and a 200-day moving average of $32.16.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The business had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the firm earned $1.24 earnings per share. Bank of N.T. Butterfield & Son’s revenue was down 2.9% on a year-over-year basis. On average, research analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

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

Several hedge funds and other institutional investors have recently modified their holdings of NTB. Lazard Asset Management LLC bought a new stake in Bank of N.T. Butterfield & Son during the first quarter worth about $44,000. TFO Wealth Partners LLC grew its stake in shares of Bank of N.T. Butterfield & Son by 18,890.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock worth $61,000 after acquiring an additional 1,889 shares during the period. CWM LLC raised its stake in Bank of N.T. Butterfield & Son by 1,001.0% during the 2nd quarter. CWM LLC now owns 4,327 shares of the bank’s stock valued at $152,000 after buying an additional 3,934 shares during the last quarter. EMC Capital Management boosted its stake in shares of Bank of N.T. Butterfield & Son by 23.8% in the 1st quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock worth $182,000 after buying an additional 1,092 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Bank of N.T. Butterfield & Son by 16.2% in the first 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. 62.73% of the stock is 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.