Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Bank of N.T. Butterfield & Son (NYSE:NTB) Stock

Bank of N.T. Butterfield & Son (NYSE:NTB) had its target price increased by Keefe, Bruyette & Woods from $41.00 to $44.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 8.67% from the stock’s previous close.

Separately, Wells Fargo & Company increased their price objective on Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.80.

Bank of N.T. Butterfield & Son Stock Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $40.49 on Wednesday. The company has a market capitalization of $1.92 billion, a PE ratio of 9.02 and a beta of 1.15. The company has a 50-day simple moving average of $36.88 and a two-hundred day simple moving average of $37.10. Bank of N.T. Butterfield & Son has a one year low of $28.73 and a one year high of $41.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

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 the consensus estimate 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%. Research analysts expect that Bank of N.T. Butterfield & Son will post 4.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC increased its position in shares of Bank of N.T. Butterfield & Son by 42.7% in the 3rd quarter. Jane Street Group LLC now owns 71,567 shares of the bank’s stock valued at $2,639,000 after acquiring an additional 21,430 shares during the period. Barclays PLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 276.9% in the third quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after purchasing an additional 44,641 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Bank of N.T. Butterfield & Son by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock worth $41,476,000 after purchasing an additional 48,463 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Bank of N.T. Butterfield & Son during the second quarter worth about $556,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Bank of N.T. Butterfield & Son in the 3rd quarter worth approximately $330,000. 62.73% of the stock is currently owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Company Profile

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.