Keefe, Bruyette & Woods Issues Positive Forecast for Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) had its target price upped by equities researchers at Keefe, Bruyette & Woods from $41.00 to $44.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 9.33% from the company's current price.

Separately, Wells Fargo & Company boosted their price target on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Bank of N.T. Butterfield & Son Price Performance

NTB stock traded down $0.19 during trading on Wednesday, hitting $40.25. The company had a trading volume of 139,445 shares, compared to its average volume of 163,275. The company has a fifty day moving average price of $37.08 and a two-hundred day moving average price of $37.16. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The company has a market cap of $1.91 billion, a P/E ratio of 8.96 and a beta of 1.15. Bank of N.T. Butterfield & Son has a fifty-two week low of $29.06 and a fifty-two week high of $41.88.

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Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The bank reported $1.34 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%. Equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently bought and sold shares of NTB. Truist Financial Corp acquired a new position in Bank of N.T. Butterfield & Son in the second quarter worth $556,000. CWM LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 170.5% during the third quarter. CWM LLC now owns 11,704 shares of the bank's stock valued at $432,000 after acquiring an additional 7,377 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of Bank of N.T. Butterfield & Son by 1.4% during the third quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank's stock valued at $837,000 after acquiring an additional 324 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Bank of N.T. Butterfield & Son by 93.5% during the third quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank's stock valued at $10,257,000 after acquiring an additional 134,351 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Bank of N.T. Butterfield & Son during the third quarter valued at $330,000. Institutional investors and hedge funds 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.