The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives Average Recommendation of “Buy” from Brokerages

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) has earned an average recommendation of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $35.80.

NTB has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in Bank of N.T. Butterfield & Son by 8.5% in the first quarter. ProShare Advisors LLC now owns 8,725 shares of the bank’s stock worth $279,000 after purchasing an additional 686 shares during the last quarter. SG Americas Securities LLC boosted its position in Bank of N.T. Butterfield & Son by 16.2% in the first quarter. SG Americas Securities LLC now owns 6,455 shares of the bank’s stock worth $206,000 after purchasing an additional 898 shares during the last quarter. New York State Common Retirement Fund boosted its position in Bank of N.T. Butterfield & Son by 1.2% in the third quarter. New York State Common Retirement Fund now owns 79,509 shares of the bank’s stock worth $2,153,000 after purchasing an additional 931 shares during the last quarter. EMC Capital Management boosted its position in Bank of N.T. Butterfield & Son by 23.8% in the first quarter. EMC Capital Management now owns 5,688 shares of the bank’s stock worth $182,000 after purchasing an additional 1,092 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Bank of N.T. Butterfield & Son by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,896 shares of the bank’s stock worth $733,000 after purchasing an additional 1,183 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Trading Up 1.1 %

NYSE NTB opened at $34.47 on Monday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 7.75 and a beta of 1.24. Bank of N.T. Butterfield & Son has a 52 week low of $24.62 and a 52 week high of $36.06. The business has a 50 day moving average price of $32.89 and a 200-day moving average price of $31.10. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.18% and a net margin of 27.95%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. As a group, equities analysts expect that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th were given a $0.44 dividend. The ex-dividend date was Monday, May 6th. This represents a $1.76 annualized dividend and a yield of 5.11%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

Bank of N.T. Butterfield & Son Company Profile

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 interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.