Bank of N.T. Butterfield & Son Limited (The) (NTB) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) from a buy rating to a hold rating in a report published on Friday morning.

According to Zacks, “The Bank of N.T. Butterfield & Son Limited offers bank and wealth management services. It provides retail and corporate banking products and services as well as wealth management solutions comprising trust, private banking and asset management. The company operates primarily in Bermuda, the Cayman Islands, Guernsey, The Bahamas, Switzerland and the United Kingdom. The Bank of N.T. Butterfield & Son Limited is headquartered in Hamilton, Bermuda. “

Bank of N.T. Butterfield & Son Limited (NYSE NTB) opened at 32.71 on Friday. Bank of N.T. Butterfield & Son Limited has a 52 week low of $23.75 and a 52 week high of $35.68. The firm’s 50 day moving average price is $33.46 and its 200-day moving average price is $33.32. The stock has a market cap of $1.79 billion and a price-to-earnings ratio of 21.34.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. The firm had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $109.32 million. Analysts expect that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 14th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.91%. The ex-dividend date was Thursday, August 10th. Bank of N.T. Butterfield & Son Limited (The)’s payout ratio is 84.21%.

Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 14,423 shares of the bank’s stock valued at $492,000 after acquiring an additional 37 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 1.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 21,476 shares of the bank’s stock valued at $732,000 after acquiring an additional 243 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 2.5% during the 2nd quarter. GSA Capital Partners LLP now owns 14,781 shares of the bank’s stock valued at $504,000 after acquiring an additional 361 shares in the last quarter. First Interstate Bank grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 14.8% during the 1st quarter. First Interstate Bank now owns 7,330 shares of the bank’s stock valued at $234,000 after acquiring an additional 945 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 20.6% during the 2nd quarter. Quantbot Technologies LP now owns 6,087 shares of the bank’s stock valued at $207,000 after acquiring an additional 1,041 shares in the last quarter. Institutional investors and hedge funds own 71.25% of the company’s stock.

Bank of N.T. Butterfield & Son Limited (The) Company Profile

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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Analyst Recommendations for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

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