Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price boosted by Keefe, Bruyette & Woods from $60.00 to $66.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.85% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, July 2nd. Wells Fargo & Company upped their target price on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Finally, Zacks Research downgraded shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Bank of N.T. Butterfield & Son Stock Up 0.8%

Shares of NYSE NTB traded up $0.48 during trading hours on Monday, hitting $61.77. The company had a trading volume of 25,181 shares, compared to its average volume of 177,623. Bank of N.T. Butterfield & Son has a 1-year low of $40.59 and a 1-year high of $62.46. The firm’s 50 day moving average is $59.26 and its 200-day moving average is $55.26. The stock has a market capitalization of $2.59 billion, a P/E ratio of 10.86 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The business had revenue of $159.00 million for the quarter. On average, sell-side analysts predict that Bank of N.T. Butterfield & Son will post 6.25 earnings per share for the current year.

Insiders Place Their Bets

In other Bank of N.T. Butterfield & Son news, Director Richard Saunders sold 18,118 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $61.33, for a total transaction of $1,111,176.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew Ronald Burns sold 18,566 shares of Bank of N.T. Butterfield & Son stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,137,538.82. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 123,392 shares of company stock worth $7,394,587 over the last three months. 1.19% of the stock is currently owned by corporate insiders.

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

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Bank of N.T. Butterfield & Son by 3,371.0% during the third quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after purchasing an additional 1,045 shares during the period. CIBC Private Wealth Group LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the third quarter worth approximately $56,000. Los Angeles Capital Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $67,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at approximately $114,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Company Profile

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.