Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $46.00

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price objective lifted by Wells Fargo & Company from $43.00 to $46.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $40.25 on Wednesday. The firm has a market cap of $1.91 billion, a PE ratio of 8.96 and a beta of 1.15. The business has a 50-day moving average price of $37.08 and a 200 day moving average price of $37.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. Bank of N.T. Butterfield & Son has a twelve month low of $29.06 and a twelve month high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, February 10th. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. Sell-side analysts predict that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current fiscal year.

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

Institutional investors have recently modified their holdings of the stock. Rovida Investment Management Ltd acquired a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth about $65,568,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 538.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after acquiring an additional 260,168 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $5,700,000. LSV Asset Management raised its stake in Bank of N.T. Butterfield & Son by 63.8% in the 4th quarter. LSV Asset Management now owns 347,499 shares of the bank’s stock valued at $12,701,000 after purchasing an additional 135,399 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Bank of N.T. Butterfield & Son by 93.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after purchasing an additional 134,351 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.