Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $39.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.95% from the stock’s previous close.

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. “

Shares of Bank of N.T. Butterfield & Son Limited (NTB) opened at 34.53 on Wednesday. Bank of N.T. Butterfield & Son Limited has a 52 week low of $23.75 and a 52 week high of $35.68. The company has a 50-day moving average of $34.36 and a 200 day moving average of $33.30. The firm has a market capitalization of $1.88 billion and a P/E ratio of 22.52.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 business had revenue of $110.16 million during the quarter, compared to the consensus estimate of $109.32 million. Equities research analysts anticipate that Bank of N.T. Butterfield & Son Limited will post $2.75 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the second quarter worth $334,000. Hilton Capital Management LLC increased its position in Bank of N.T. Butterfield & Son Limited (The) by 2.5% in the second quarter. Hilton Capital Management LLC now owns 744,162 shares of the bank’s stock worth $25,376,000 after buying an additional 17,880 shares in the last quarter. Airain ltd bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the second quarter worth $320,000. Prudential Financial Inc. increased its position in Bank of N.T. Butterfield & Son Limited (The) by 188.2% in the second quarter. Prudential Financial Inc. now owns 157,830 shares of the bank’s stock worth $5,382,000 after buying an additional 103,070 shares in the last quarter. Finally, Federated Investors Inc. PA bought a new position in Bank of N.T. Butterfield & Son Limited (The) during the second quarter worth $462,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

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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