Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Cut to $30.00

Posted by on Oct 28th, 2023

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $35.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 19.81% from the company’s previous close.

Other research analysts have also recently issued reports about the company. StockNews.com assumed coverage on Bank of N.T. Butterfield & Son in a report on Thursday, October 5th. They set a “hold” rating for the company. Raymond James lowered their target price on Bank of N.T. Butterfield & Son from $33.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, October 5th. Finally, The Goldman Sachs Group lowered their target price on Bank of N.T. Butterfield & Son from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, October 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Read Our Latest Research Report on Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Stock Down 2.1 %

Shares of NYSE NTB opened at $25.04 on Thursday. The stock has a market cap of $1.26 billion, a PE ratio of 5.32 and a beta of 1.39. The business has a fifty day moving average of $27.58 and a two-hundred day moving average of $27.49. Bank of N.T. Butterfield & Son has a 52-week low of $22.93 and a 52-week high of $38.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.62 and a current ratio of 0.61.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Free Report) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $143.86 million. Bank of N.T. Butterfield & Son had a return on equity of 26.06% and a net margin of 33.25%. The business’s revenue was up .4% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. As a group, equities research analysts expect that Bank of N.T. Butterfield & Son will post 4.87 earnings per share for the current fiscal year.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in Bank of N.T. Butterfield & Son by 34.6% in the second quarter. Captrust Financial Advisors now owns 1,178 shares of the bank’s stock worth $37,000 after purchasing an additional 303 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Bank of N.T. Butterfield & Son by 2.5% during the second quarter. Clear Harbor Asset Management LLC now owns 13,334 shares of the bank’s stock worth $365,000 after buying an additional 330 shares during the last quarter. Deutsche Bank AG boosted its holdings in Bank of N.T. Butterfield & Son by 1.6% during the fourth quarter. Deutsche Bank AG now owns 21,130 shares of the bank’s stock worth $630,000 after buying an additional 332 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 3.2% during the first quarter. Laurel Wealth Advisors Inc. now owns 12,080 shares of the bank’s stock worth $433,000 after buying an additional 380 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Bank of N.T. Butterfield & Son by 1.6% during the first quarter. Sei Investments Co. now owns 24,313 shares of the bank’s stock worth $874,000 after buying an additional 385 shares during the last quarter. 64.62% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Company Profile

(Get Free Report)

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.

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