The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) Given Average Recommendation of “Buy” by Analysts

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) has earned a consensus recommendation of “Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.40.

A number of equities research analysts have issued reports on NTB shares. Wells Fargo & Company upped their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. The Goldman Sachs Group upped their price objective on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Westwood Holdings Group Inc. purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 2nd quarter valued at approximately $31,906,000. Norges Bank purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $10,909,000. American Century Companies Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 31.7% in the 2nd quarter. American Century Companies Inc. now owns 876,472 shares of the bank’s stock worth $30,782,000 after buying an additional 211,147 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 45.6% in the 2nd quarter. Victory Capital Management Inc. now owns 381,876 shares of the bank’s stock worth $13,411,000 after buying an additional 119,572 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Bank of N.T. Butterfield & Son in the 1st quarter worth $2,905,000. 62.73% of the stock is owned by institutional investors.

Bank of N.T. Butterfield & Son Trading Down 0.6 %

NYSE:NTB opened at $36.75 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50-day moving average of $37.07 and a 200-day moving average of $34.80. The company has a market cap of $1.85 billion, a PE ratio of 8.26 and a beta of 1.18. Bank of N.T. Butterfield & Son has a one year low of $24.62 and a one year high of $40.55.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, topping the consensus estimate of $1.05 by $0.04. The company had revenue of $143.10 million during the quarter, compared to the consensus estimate of $139.75 million. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.55 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 39.55%.

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.