Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $52.00 at Keefe, Bruyette & Woods

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target lifted by Keefe, Bruyette & Woods from $50.00 to $52.00 in a research report released on Thursday,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

A number of other brokerages have also recently commented on NTB. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price (up from $44.00) on shares of Bank of N.T. Butterfield & Son in a report on Tuesday, July 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 target price (down from $54.00) on shares of Bank of N.T. Butterfield & Son in a report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank of N.T. Butterfield & Son in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.67.

Bank of N.T. Butterfield & Son Stock Up 2.7%

Shares of Bank of N.T. Butterfield & Son stock opened at $45.53 on Thursday. Bank of N.T. Butterfield & Son has a twelve month low of $34.77 and a twelve month high of $46.89. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 8.62 and a beta of 0.61. The company’s 50 day moving average is $43.64 and its 200 day moving average is $43.28.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, October 28th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 28.27% and a return on equity of 21.94%. The business had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $147.92 million. During the same period in the prior year, the company earned $1.16 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Sell-side analysts expect that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, November 10th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 37.88%.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP raised its position in shares of Bank of N.T. Butterfield & Son by 8.4% during the 1st quarter. Quarry LP now owns 3,327 shares of the bank’s stock valued at $129,000 after purchasing an additional 258 shares during the period. Strs Ohio raised its position in shares of Bank of N.T. Butterfield & Son by 1.6% during the 3rd quarter. Strs Ohio now owns 18,900 shares of the bank’s stock valued at $811,000 after purchasing an additional 300 shares during the period. Cerity Partners LLC raised its position in shares of Bank of N.T. Butterfield & Son by 3.2% during the 2nd quarter. Cerity Partners LLC now owns 14,779 shares of the bank’s stock valued at $654,000 after purchasing an additional 457 shares during the period. Schroder Investment Management Group raised its position in shares of Bank of N.T. Butterfield & Son by 0.9% during the 2nd quarter. Schroder Investment Management Group now owns 57,833 shares of the bank’s stock valued at $2,561,000 after purchasing an additional 511 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Bank of N.T. Butterfield & Son by 204.3% during the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after acquiring an additional 523 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Company Profile

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.