Bank of N.T. Butterfield & Son (NYSE:NTB) Upgraded to Buy by ValuEngine

Bank of N.T. Butterfield & Son (NYSE:NTB) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

NTB has been the topic of several other reports. TheStreet upgraded Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a research report on Friday, November 8th. Raymond James lowered their target price on Bank of N.T. Butterfield & Son from $38.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Zacks Investment Research upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Finally, Citigroup lowered their price objective on Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.80.

NYSE NTB opened at $34.95 on Tuesday. The company has a market capitalization of $1.89 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.56 and a beta of 1.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.72. The business’s fifty day moving average is $33.16 and its 200 day moving average is $32.10. Bank of N.T. Butterfield & Son has a fifty-two week low of $26.08 and a fifty-two week high of $41.84.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, October 23rd. The bank reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.12). The company had revenue of $132.97 million for the quarter, compared to analysts’ expectations of $138.14 million. Bank of N.T. Butterfield & Son had a net margin of 32.27% and a return on equity of 22.09%. During the same quarter last year, the firm posted $0.88 earnings per share. On average, sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 3.7 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Huntington National Bank purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $39,000. SRS Capital Advisors Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son in the third quarter valued at about $69,000. NumerixS Investment Technologies Inc purchased a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at about $85,000. Tower Research Capital LLC TRC lifted its position in shares of Bank of N.T. Butterfield & Son by 35.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,529 shares of the bank’s stock valued at $120,000 after acquiring an additional 918 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Bank of N.T. Butterfield & Son by 514.0% in the second quarter. Bank of Montreal Can now owns 5,489 shares of the bank’s stock valued at $186,000 after acquiring an additional 4,595 shares in the last quarter. Institutional investors and hedge funds own 71.06% of the company’s stock.

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 non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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