Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Passes Below 50-Day Moving Average – What’s Next?

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $36.96 and traded as low as $36.29. Bank of N.T. Butterfield & Son shares last traded at $36.67, with a volume of 141,877 shares trading hands.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $44.00 to $41.00 in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.60.

Bank of N.T. Butterfield & Son Trading Up 0.1 %

The business’s 50-day moving average is $36.96 and its two-hundred day moving average is $37.21. The stock has a market capitalization of $1.74 billion, a PE ratio of 8.17 and a beta of 1.16. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTB. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 2.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,131 shares of the bank’s stock valued at $3,806,000 after acquiring an additional 2,927 shares during the period. Polaris Capital Management LLC acquired a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth $2,039,000. Empowered Funds LLC grew its position in Bank of N.T. Butterfield & Son by 19.2% during the 4th quarter. Empowered Funds LLC now owns 155,861 shares of the bank’s stock worth $5,697,000 after purchasing an additional 25,082 shares during the last quarter. Jennison Associates LLC grew its position in Bank of N.T. Butterfield & Son by 10.8% during the 4th quarter. Jennison Associates LLC now owns 52,016 shares of the bank’s stock worth $1,901,000 after purchasing an additional 5,061 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at $72,000. Hedge funds and other institutional investors 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.