Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price target boosted by equities researchers at Wells Fargo & Company from $43.00 to $46.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the bank’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.61% from the stock’s current price.

Bank of N.T. Butterfield & Son Trading Up 8.1 %

NYSE:NTB opened at $40.49 on Wednesday. Bank of N.T. Butterfield & Son has a 1-year low of $28.73 and a 1-year high of $41.67. The stock has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $37.10. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 9.02 and a beta of 1.15.

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 analysts’ consensus estimates 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%. Sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.