Bank of N.T. Butterfield & Son (NYSE:NTB) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) in a report published on Thursday morning. The brokerage issued a hold rating on the bank’s stock.

NTB has been the topic of several other reports. Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $48.00 and gave the company an overweight rating in a research report on Wednesday, February 15th. Raymond James lifted their price objective on shares of Bank of N.T. Butterfield & Son from $38.00 to $41.00 and gave the company an outperform rating in a research report on Wednesday, February 15th. Piper Sandler cut their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $36.00 and set an overweight rating on the stock in a research report on Tuesday, December 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Bank of N.T. Butterfield & Son from $36.00 to $41.00 and gave the company a buy rating in a research report on Wednesday, February 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $41.50.

Bank of N.T. Butterfield & Son Trading Down 5.8 %

NYSE NTB opened at $28.55 on Thursday. Bank of N.T. Butterfield & Son has a one year low of $26.68 and a one year high of $38.31. The company has a 50-day simple moving average of $33.03 and a 200-day simple moving average of $32.92. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $1.43 billion, a PE ratio of 6.66 and a beta of 1.42.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last posted its quarterly earnings results on Tuesday, February 14th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.10 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 37.09% and a return on equity of 26.44%. The business had revenue of $148.50 million during the quarter, compared to analyst estimates of $140.30 million. During the same period in the previous year, the business posted $0.84 EPS. On average, equities analysts forecast that Bank of N.T. Butterfield & Son will post 4.82 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 27th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, February 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 6.16%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 41.03%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in NTB. Raymond James & Associates bought a new stake in shares of Bank of N.T. Butterfield & Son during the 1st quarter worth about $309,000. PNC Financial Services Group Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 26.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,831 shares of the bank’s stock worth $138,000 after purchasing an additional 793 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bank of N.T. Butterfield & Son by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 986,358 shares of the bank’s stock worth $35,392,000 after purchasing an additional 6,178 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Bank of N.T. Butterfield & Son by 1.6% in the 1st quarter. Sei Investments Co. now owns 24,313 shares of the bank’s stock worth $874,000 after purchasing an additional 385 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 471,318 shares of the bank’s stock worth $16,912,000 after purchasing an additional 13,288 shares in the last quarter. 68.21% of the stock is currently owned by institutional investors.

About Bank of N.T. Butterfield & Son

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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, Guernsey, The Bahamas, Switzerland, and the United Kingdom. The Bermuda and the Cayman Islands segment offers a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance and trust companies, and hedge funds.