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 boosted by stock analysts at Wells Fargo & Company from $43.00 to $46.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 13.61% from the company’s current price.

Bank of N.T. Butterfield & Son Price Performance

Shares of NYSE:NTB opened at $40.49 on Wednesday. The company has a market cap of $1.92 billion, a PE ratio of 9.02 and a beta of 1.15. The firm has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $37.10. Bank of N.T. Butterfield & Son has a fifty-two week low of $28.73 and a fifty-two week high of $41.67. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results 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 net margin of 25.93% and a return on equity of 21.14%. On average, sell-side analysts anticipate that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NTB. Jane Street Group LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 42.7% during the third quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock valued at $2,639,000 after purchasing an additional 21,430 shares during the period. Barclays PLC grew its position in Bank of N.T. Butterfield & Son by 276.9% in the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after buying an additional 44,641 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Bank of N.T. Butterfield & Son by 4.5% during the 3rd 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 acquired 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 stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth $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.