Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $46.00

Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price hoisted by Wells Fargo & Company from $43.00 to $46.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the bank’s stock.

Bank of N.T. Butterfield & Son Trading Up 1.4 %

NTB opened at $41.29 on Wednesday. The stock has a 50-day moving average of $36.94 and a 200 day moving average of $37.11. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. Bank of N.T. Butterfield & Son has a 12 month low of $28.73 and a 12 month high of $41.88. The firm has a market cap of $1.96 billion, a P/E ratio of 9.20 and a beta of 1.15.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, February 10th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. As a group, research analysts forecast that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 42.7% during the 3rd quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock worth $2,639,000 after purchasing an additional 21,430 shares during the period. Barclays PLC lifted its stake in Bank of N.T. Butterfield & Son by 276.9% in the third quarter. Barclays PLC now owns 60,763 shares of the bank’s stock worth $2,241,000 after purchasing an additional 44,641 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Bank of N.T. Butterfield & Son by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock valued at $41,476,000 after buying an additional 48,463 shares during the period. Truist Financial Corp purchased a new position in shares of Bank of N.T. Butterfield & Son during the second quarter valued at approximately $556,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at approximately $330,000. Institutional investors own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.