The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives $39.40 Average PT from Analysts

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have been assigned a consensus rating of “Buy” from the five analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.40.

NTB has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price objective on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th.

Bank of N.T. Butterfield & Son Price Performance

NTB remained flat at $34.87 during trading on Friday. 300,582 shares of the company’s stock were exchanged, compared to its average volume of 213,576. 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 market cap of $1.75 billion, a P/E ratio of 7.82 and a beta of 1.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a fifty day moving average of $35.60 and a 200 day moving average of $33.09.

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

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is currently 39.55%.

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

Several large investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter valued at $44,000. Meeder Asset Management Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter valued at approximately $56,000. TFO Wealth Partners LLC lifted its position 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 purchasing an additional 1,889 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the second quarter worth $138,000. Finally, CWM LLC boosted its holdings in Bank of N.T. Butterfield & Son by 1,001.0% during the second quarter. CWM LLC now owns 4,327 shares of the bank’s stock worth $152,000 after purchasing an additional 3,934 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

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.