Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price cut by research analysts at Citigroup from $39.00 to $37.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the bank’s stock. Citigroup‘s target price would suggest a potential upside of 8.06% from the company’s previous close.

A number of other equities research analysts have also issued reports on NTB. ValuEngine lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, TheStreet raised shares of Bank of N.T. Butterfield & Son from a “c+” rating to a “b-” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.00.

Shares of Bank of N.T. Butterfield & Son stock opened at $34.24 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 1.54 and a beta of 1.91. The firm’s 50-day simple moving average is $35.47 and its 200-day simple moving average is $32.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.72 and a current ratio of 0.72. Bank of N.T. Butterfield & Son has a 1 year low of $26.08 and a 1 year high of $41.84.

Several large investors have recently made changes to their positions in the stock. Amalgamated Bank grew its position in shares of Bank of N.T. Butterfield & Son by 9.6% during the 4th quarter. Amalgamated Bank now owns 9,371 shares of the bank’s stock valued at $347,000 after buying an additional 823 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $23,482,000. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $42,000. ProShare Advisors LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $278,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 6.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 51,298 shares of the bank’s stock valued at $1,899,000 after buying an additional 3,012 shares during the last quarter. 71.53% of the stock is owned by institutional investors and hedge funds.

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 deposit. 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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