Wells Fargo & Company Issues Positive Forecast for Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price

Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price lifted by analysts at Wells Fargo & Company from $57.00 to $61.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 4.98% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of N.T. Butterfield & Son from $52.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Bank of N.T. Butterfield & Son presently has an average rating of “Moderate Buy” and an average target price of $56.33.

Bank of N.T. Butterfield & Son Stock Up 0.3%

NYSE NTB traded up $0.20 during trading on Monday, hitting $58.11. The stock had a trading volume of 19,166 shares, compared to its average volume of 170,502. The company has a market capitalization of $2.44 billion, a PE ratio of 10.05 and a beta of 0.51. The firm has a 50 day moving average price of $55.48 and a 200 day moving average price of $52.24. Bank of N.T. Butterfield & Son has a twelve month low of $40.59 and a twelve month high of $58.72.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 EPS for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The business had revenue of $155.93 million during the quarter. On average, sell-side analysts anticipate that Bank of N.T. Butterfield & Son will post 6.1 earnings per share for the current year.

Bank of N.T. Butterfield & Son announced that its board has approved a stock buyback program on Monday, February 9th that authorizes the company to buyback $3.00 million in shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Bank of N.T. Butterfield & Son

In related news, Director Mark T. Lynch purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTB. UBS Group AG grew its holdings in Bank of N.T. Butterfield & Son by 380.1% in the fourth quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after purchasing an additional 155,784 shares during the last quarter. Quantbot Technologies LP grew its holdings in Bank of N.T. Butterfield & Son by 97.5% in the third quarter. Quantbot Technologies LP now owns 24,895 shares of the bank’s stock valued at $1,068,000 after purchasing an additional 12,290 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Bank of N.T. Butterfield & Son by 16.7% in the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock valued at $5,787,000 after purchasing an additional 19,327 shares during the last quarter. LSV Asset Management grew its holdings in Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after purchasing an additional 172,666 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Bank of N.T. Butterfield & Son by 10.2% in the third quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock valued at $65,140,000 after purchasing an additional 140,041 shares during the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

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.