Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) from a buy rating to a hold rating in a report released on Saturday.

According to Zacks, “The Bank of N.T. Butterfield & Son Limited offers bank and wealth management services. It provides retail and corporate banking products and services as well as wealth management solutions comprising trust, private banking and asset management. The company operates primarily in Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland and the United Kingdom. The Bank of N.T. Butterfield & Son Limited is headquartered in Hamilton, Bermuda. “

Bank of N.T. Butterfield & Son Limited (NTB) traded up 0.09% on Friday, hitting $33.43. 107,443 shares of the company traded hands. The firm has a market capitalization of $1.82 billion and a PE ratio of 21.81. Bank of N.T. Butterfield & Son Limited has a 1-year low of $23.75 and a 1-year high of $35.68. The firm’s 50 day moving average price is $34.05 and its 200 day moving average price is $33.32.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last released its earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The business had revenue of $110.16 million for the quarter, compared to the consensus estimate of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. Equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be given a $0.32 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.28 annualized dividend and a dividend yield of 3.83%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio (DPR) is presently 84.21%.

Several institutional investors have recently added to or reduced their stakes in NTB. Teachers Advisors LLC purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the fourth quarter valued at $431,000. Nationwide Fund Advisors increased its position in Bank of N.T. Butterfield & Son Limited (The) by 349.8% in the first quarter. Nationwide Fund Advisors now owns 22,601 shares of the bank’s stock valued at $721,000 after buying an additional 17,576 shares during the period. Independent Portfolio Consultants Inc. purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $392,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at $1,235,000. Finally, Wells Fargo & Company MN increased its position in Bank of N.T. Butterfield & Son Limited (The) by 30.6% in the first quarter. Wells Fargo & Company MN now owns 464,161 shares of the bank’s stock valued at $14,811,000 after buying an additional 108,637 shares during the period. Institutional investors and hedge funds own 66.16% of the company’s stock.

About Bank of N.T. Butterfield & Son Limited (The)

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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

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