Zacks Investment Research upgraded shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) from a hold rating to a buy rating in a report issued on Tuesday. Zacks Investment Research currently has $36.00 price objective on the bank’s stock.

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 (NYSE NTB) opened at 34.25 on Tuesday. The company has a 50-day moving average of $33.35 and a 200 day moving average of $33.36. The firm has a market cap of $1.87 billion and a P/E ratio of 22.34. Bank of N.T. Butterfield & Son Limited has a 52-week low of $23.75 and a 52-week high of $35.68.

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 (EPS) for the quarter, hitting analysts’ consensus estimates of $0.67. The business had revenue of $110.16 million during the quarter, compared to the consensus estimate of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. On average, equities analysts expect that Bank of N.T. Butterfield & Son Limited will post $2.76 earnings per share 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 issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.28 dividend on an annualized basis and a yield of 3.74%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio (DPR) is 84.21%.

A number of institutional investors and hedge funds have recently bought and sold shares of NTB. Westfield Capital Management Co. LP bought a new position in Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth $22,661,000. Point72 Asset Management L.P. bought a new position in Bank of N.T. Butterfield & Son Limited (The) in the first quarter worth $22,417,000. State Street Corp raised its holdings in Bank of N.T. Butterfield & Son Limited (The) by 340.7% in the second quarter. State Street Corp now owns 859,224 shares of the bank’s stock worth $29,300,000 after purchasing an additional 664,249 shares in the last quarter. Monashee Investment Management LLC raised its holdings in Bank of N.T. Butterfield & Son Limited (The) by 1,125.6% in the first quarter. Monashee Investment Management LLC now owns 500,000 shares of the bank’s stock worth $15,955,000 after purchasing an additional 459,203 shares in the last quarter. Finally, FMR LLC raised its holdings in Bank of N.T. Butterfield & Son Limited (The) by 25.5% in the second quarter. FMR LLC now owns 2,188,148 shares of the bank’s stock worth $74,616,000 after purchasing an additional 445,000 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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