Bank of N.T. Butterfield & Son (NYSE:NTB) Receives “Equal Weight” Rating from Wells Fargo & Company

Bank of N.T. Butterfield & Son (NYSE:NTB)‘s stock had its “equal weight” rating restated by equities research analysts at Wells Fargo & Company in a research note issued on Monday,Benzinga reports. They currently have a $50.00 price target on the bank’s stock, down from their prior price target of $54.00. Wells Fargo & Company‘s target price would suggest a potential upside of 13.23% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price (up previously from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price on Bank of N.T. Butterfield & Son from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $50.00.

Bank of N.T. Butterfield & Son Stock Performance

Bank of N.T. Butterfield & Son stock opened at $44.16 on Monday. Bank of N.T. Butterfield & Son has a one year low of $34.77 and a one year high of $46.89. The business has a fifty day moving average of $44.91 and a two-hundred day moving average of $42.56. The company has a market cap of $2.10 billion, a P/E ratio of 8.87 and a beta of 0.67.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Monday, July 28th. The bank reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Bank of N.T. Butterfield & Son had a return on equity of 21.16% and a net margin of 27.05%.The company had revenue of $146.30 million during the quarter, compared to the consensus estimate of $146.91 million. During the same quarter last year, the company earned $1.09 earnings per share. Sell-side analysts predict that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in Bank of N.T. Butterfield & Son by 8.4% in the 1st quarter. Quarry LP now owns 3,327 shares of the bank’s stock valued at $129,000 after buying an additional 258 shares during the period. Cerity Partners LLC grew its holdings in Bank of N.T. Butterfield & Son by 3.2% in the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after buying an additional 457 shares during the period. Schroder Investment Management Group grew its holdings in Bank of N.T. Butterfield & Son by 0.9% in the 2nd quarter. Schroder Investment Management Group now owns 57,833 shares of the bank’s stock valued at $2,561,000 after buying an additional 511 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after buying an additional 523 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in Bank of N.T. Butterfield & Son by 207.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 830 shares of the bank’s stock valued at $37,000 after buying an additional 560 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

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.