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

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) have earned an average rating of “Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $39.40.

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price 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. Wells Fargo & Company lifted their target price 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.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Bank of N.T. Butterfield & Son by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,600,864 shares of the bank’s stock valued at $56,221,000 after purchasing an additional 51,875 shares during the period. Westwood Holdings Group Inc. purchased a new stake in Bank of N.T. Butterfield & Son in the second quarter valued at approximately $31,906,000. Vanguard Group Inc. grew its holdings in Bank of N.T. Butterfield & Son by 5.4% in the first quarter. Vanguard Group Inc. now owns 903,713 shares of the bank’s stock valued at $28,910,000 after purchasing an additional 46,416 shares during the period. American Century Companies Inc. grew its stake in Bank of N.T. Butterfield & Son by 31.7% during the second 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 period. Finally, Victory Capital Management Inc. grew its stake in Bank of N.T. Butterfield & Son by 45.6% during the second 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 period. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Down 2.9 %

Shares of NYSE NTB opened at $37.52 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 52 week low of $24.62 and a 52 week high of $40.55. The firm has a 50-day moving average price of $37.30 and a 200 day moving average price of $34.59. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 8.43 and a beta of 1.18.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $1.09 EPS for the quarter, beating the consensus estimate of $1.05 by $0.04. Bank of N.T. Butterfield & Son had a net margin of 25.97% and a return on equity of 22.32%. The firm had revenue of $143.10 million during the quarter, compared to analysts’ expectations of $139.75 million. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts anticipate that Bank of N.T. Butterfield & Son will post 4.55 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a dividend of $0.44 per share. The ex-dividend date was Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.69%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Bank of N.T. Butterfield & Son Company Profile

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.