Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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. “

Separately, Citigroup Inc. downgraded shares of Bank of N.T. Butterfield & Son Limited (The) from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $33.40.

Bank of N.T. Butterfield & Son Limited (NYSE:NTB) opened at 36.64 on Friday. Bank of N.T. Butterfield & Son Limited has a one year low of $23.75 and a one year high of $36.70. The company’s 50-day moving average price is $33.42 and its 200-day moving average price is $33.40. The stock has a market cap of $2.00 billion and a P/E ratio of 23.90.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.67 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.67. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. The firm had revenue of $110.16 million during the quarter, compared to the consensus estimate of $109.32 million. Analysts forecast that Bank of N.T. Butterfield & Son Limited will post $2.77 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in NTB. Teachers Advisors LLC bought a new stake in Bank of N.T. Butterfield & Son Limited (The) in the fourth quarter worth about $431,000. Nationwide Fund Advisors lifted its stake 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 worth $721,000 after purchasing an additional 17,576 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Bank of N.T. Butterfield & Son Limited (The) by 6.0% in the first quarter. Bank of New York Mellon Corp now owns 81,515 shares of the bank’s stock worth $2,568,000 after purchasing an additional 4,593 shares during the last quarter. Sei Investments Co. lifted its stake in Bank of N.T. Butterfield & Son Limited (The) by 97.7% in the first quarter. Sei Investments Co. now owns 77,352 shares of the bank’s stock worth $2,469,000 after purchasing an additional 38,220 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new stake in Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth about $678,000. 71.06% of the stock is owned by institutional investors and hedge funds.

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

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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