Bank of N.T. Butterfield & Son Limited (The) (NTB) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) from a buy rating to a hold rating in a research report released on Saturday morning.

According to Zacks, “The Bank of N.T. Butterfield & Son Limited offers bank and wealth management services. It provides retail and corporate banking products and services as well as wealth management solutions comprising trust, private banking and asset management. The company operates primarily in Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland and the United Kingdom. The Bank of N.T. Butterfield & Son Limited is headquartered in Hamilton, Bermuda. “

Shares of Bank of N.T. Butterfield & Son Limited (NTB) traded up 0.64% during trading on Friday, hitting $34.47. 425,635 shares of the company traded hands. The stock has a market cap of $1.88 billion and a price-to-earnings ratio of 22.49. Bank of N.T. Butterfield & Son Limited has a one year low of $23.75 and a one year high of $35.68. The firm has a 50 day moving average price of $33.35 and a 200-day moving average price of $33.38.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. The company had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. Analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were paid a $0.32 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.28 annualized dividend and a dividend yield of 3.71%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio is currently 84.21%.

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth approximately $161,000. Ameritas Investment Partners Inc. increased its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 376.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock worth $161,000 after acquiring an additional 3,732 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth approximately $190,000. BNP Paribas Arbitrage SA increased its position in shares of Bank of N.T. Butterfield & Son Limited (The) by 7,428.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the bank’s stock worth $195,000 after acquiring an additional 5,646 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new position in shares of Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth approximately $233,000. 71.25% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Limited (The) Company Profile

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

Analyst Recommendations for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

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