Bank of N.T. Butterfield & Son Ltd (NTB) Given Consensus Rating of “Buy” by Brokerages

Shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) have earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $49.00.

A number of analysts recently issued reports on the stock. Raymond James increased their target price on shares of Bank of N.T. Butterfield & Son from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Friday, July 13th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Bank of N.T. Butterfield & Son in a research report on Wednesday, October 24th. Finally, TheStreet raised shares of Bank of N.T. Butterfield & Son from a “c” rating to a “b-” rating in a research report on Monday, September 17th.

NTB traded up $0.91 on Friday, reaching $41.57. 323,357 shares of the company’s stock were exchanged, compared to its average volume of 644,072. The company has a market cap of $2.27 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.60. Bank of N.T. Butterfield & Son has a twelve month low of $34.86 and a twelve month high of $53.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.61 and a current ratio of 0.61.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Wednesday, October 24th. The bank reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.05). The business had revenue of $129.55 million for the quarter, compared to analyst estimates of $132.36 million. Bank of N.T. Butterfield & Son had a return on equity of 22.33% and a net margin of 35.65%. On average, sell-side analysts predict that Bank of N.T. Butterfield & Son will post 3.66 earnings per share for the current year.

The company also recently disclosed a dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be given a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 2nd. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is 24.48%.

A number of large investors have recently modified their holdings of NTB. Stratos Wealth Partners LTD. acquired a new stake in Bank of N.T. Butterfield & Son in the third quarter valued at approximately $116,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at approximately $130,000. First Hawaiian Bank purchased a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at approximately $311,000. Sheets Smith Wealth Management purchased a new position in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at approximately $338,000. Finally, Iberiabank Corp purchased a new position in shares of Bank of N.T. Butterfield & Son during the 3rd quarter valued at approximately $369,000. 74.03% of the stock is owned by institutional investors.

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 deposits. 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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Analyst Recommendations for Bank of N.T. Butterfield & Son (NYSE:NTB)

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