Keefe, Bruyette & Woods Increases Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target to $44.00

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target increased by equities researchers at Keefe, Bruyette & Woods from $41.00 to $44.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 8.67% from the stock’s previous close.

Separately, Wells Fargo & Company increased their price objective on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $40.49 on Wednesday. The stock has a 50 day moving average price of $36.88 and a 200-day moving average price of $37.10. Bank of N.T. Butterfield & Son has a one year low of $28.73 and a one year high of $41.67. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 9.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Monday, February 10th. The bank reported $1.34 EPS for the quarter, topping 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%. Equities analysts expect that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current year.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

A number of institutional investors have recently modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in Bank of N.T. Butterfield & Son in the third quarter worth about $37,000. Point72 DIFC Ltd raised its holdings in shares of Bank of N.T. Butterfield & Son by 370.1% in the 3rd quarter. Point72 DIFC Ltd now owns 1,368 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,077 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter worth approximately $72,000. Nisa Investment Advisors LLC boosted its stake in shares of Bank of N.T. Butterfield & Son by 222.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,254 shares of the bank’s stock valued at $83,000 after purchasing an additional 1,554 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Bank of N.T. Butterfield & Son by 223.7% during the third quarter. Quarry LP now owns 2,564 shares of the bank’s stock valued at $95,000 after purchasing an additional 1,772 shares in the last quarter. 62.73% of the stock is owned by hedge funds and other institutional investors.

About Bank of N.T. Butterfield & Son

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.