Bank of N.T. Butterfield & Son (NYSE:NTB) Lifted to B- at TheStreet

Bank of N.T. Butterfield & Son (NYSE:NTB) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a report issued on Friday, TheStreetRatingsTable reports.

A number of other equities analysts also recently weighed in on NTB. Citigroup cut their target price on Bank of N.T. Butterfield & Son from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Wells Fargo & Co cut their target price on Bank of N.T. Butterfield & Son from $38.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Raymond James cut 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 note 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 note on Saturday. Finally, ValuEngine upgraded Bank of N.T. Butterfield & Son from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Bank of N.T. Butterfield & Son currently has an average rating of “Hold” and an average target price of $39.20.

NTB stock traded up $0.16 during mid-day trading on Friday, reaching $33.81. 28,242 shares of the company traded hands, compared to its average volume of 221,390. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.51 and a beta of 1.88. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.15. Bank of N.T. Butterfield & Son has a fifty-two week low of $26.08 and a fifty-two week high of $41.84. The firm’s 50 day moving average price is $30.90 and its 200 day moving average price is $32.68.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Wednesday, October 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). The company had revenue of $132.97 million for the quarter, compared to analyst estimates 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 EPS. On average, analysts anticipate that Bank of N.T. Butterfield & Son will post 3.78 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in NTB. Cornerstone Advisors Inc. raised its holdings in shares of Bank of N.T. Butterfield & Son by 154.1% in the 2nd quarter. Cornerstone Advisors Inc. now owns 780 shares of the bank’s stock worth $26,000 after purchasing an additional 473 shares during the period. Huntington National Bank bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $39,000. SRS Capital Advisors Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $69,000. NumerixS Investment Technologies Inc bought a new stake in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $85,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Bank of N.T. Butterfield & Son by 35.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,529 shares of the bank’s stock worth $120,000 after purchasing an additional 918 shares during the period. Hedge funds and other institutional investors own 71.65% 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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