Wells Fargo & Company Forecasts Strong Price Appreciation for Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target lifted by research analysts at Wells Fargo & Company from $43.00 to $46.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.93% from the stock’s current price.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB stock opened at $40.38 on Wednesday. The company has a 50 day moving average price of $37.01 and a 200-day moving average price of $37.14. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.92 billion, a PE ratio of 8.99 and a beta of 1.15. Bank of N.T. Butterfield & Son has a 52 week low of $29.06 and a 52 week high of $41.88.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Several hedge funds have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth about $37,000. Point72 DIFC Ltd increased its position in Bank of N.T. Butterfield & Son by 370.1% during the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,077 shares during the period. R Squared Ltd purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $72,000. Nisa Investment Advisors LLC increased its position in Bank of N.T. Butterfield & Son by 222.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,554 shares during the period. Finally, Quarry LP grew its position in shares of Bank of N.T. Butterfield & Son by 223.7% in the 3rd quarter. Quarry LP now owns 2,564 shares of the bank’s stock worth $95,000 after buying an additional 1,772 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 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.