The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Receives Consensus Rating of “Buy” from Brokerages

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have earned an average recommendation of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $35.80.

Several research firms recently weighed in on NTB. Raymond James reaffirmed an “outperform” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group upped their price target on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, January 11th.

Bank of N.T. Butterfield & Son Stock Up 1.1 %

Bank of N.T. Butterfield & Son stock opened at $34.39 on Thursday. The company has a 50-day simple moving average of $31.09 and a 200-day simple moving average of $30.01. The firm has a market capitalization of $1.73 billion, a P/E ratio of 7.73 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. Bank of N.T. Butterfield & Son has a one year low of $22.93 and a one year high of $34.93.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Wednesday, April 24th. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21. The business had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 earnings per share. As a group, equities analysts expect that Bank of N.T. Butterfield & Son will post 4.4 earnings per share for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend is Monday, May 6th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

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

A number of hedge funds have recently bought and sold shares of NTB. TFO Wealth Partners LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 18,890.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,899 shares of the bank’s stock valued at $61,000 after purchasing an additional 1,889 shares during the period. Meritage Portfolio Management increased its holdings in shares of Bank of N.T. Butterfield & Son by 5.5% in the 3rd quarter. Meritage Portfolio Management now owns 8,137 shares of the bank’s stock valued at $220,000 after purchasing an additional 425 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at about $276,000. Nisa Investment Advisors LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 304.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,636 shares of the bank’s stock valued at $234,000 after purchasing an additional 6,500 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Bank of N.T. Butterfield & Son in the 3rd quarter valued at about $268,000. 62.73% of the stock is owned by hedge funds and other 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 interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.