Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target raised by research analysts at Keefe, Bruyette & Woods from $41.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 8.98% from the company’s previous close.

Separately, Wells Fargo & Company increased their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB 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. Bank of N.T. Butterfield & Son has a fifty-two week low of $29.06 and a fifty-two week high of $41.88. The stock has a market capitalization of $1.92 billion, a PE ratio of 8.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, February 10th. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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%. Equities analysts predict that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rovida Investment Management Ltd acquired a new stake in Bank of N.T. Butterfield & Son during the fourth quarter valued at $65,568,000. Jacobs Levy Equity Management Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 538.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock valued at $11,377,000 after purchasing an additional 260,168 shares in the last quarter. Norges Bank purchased a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at $5,700,000. LSV Asset Management lifted its holdings in Bank of N.T. Butterfield & Son by 63.8% during the fourth quarter. LSV Asset Management now owns 347,499 shares of the bank’s stock valued at $12,701,000 after purchasing an additional 135,399 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Bank of N.T. Butterfield & Son by 93.5% during the third quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after purchasing an additional 134,351 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

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.