Bank of NT Butterfield & Son (NYSE: NTB) upgrade at Zacks Investment Research

Bank of NT Butterfield & Son (NYSE: NTB) was upgraded by Zacks Investment Research from a “sell” rating to a “keep” rating in a research report released Thursday to clients and investors, Zacks.com reports.

According to Zacks, “The Bank of NT Butterfield & Son Limited provides banking and wealth management services. It provides retail and corporate banking products and services as well as wealth management solutions including 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 NT Butterfield & Son Limited is headquartered in Hamilton, Bermuda. “

Separately, Wells Fargo & Company raised its price target on Bank of NT Butterfield & Son from $ 36.00 to $ 38.00 and assigned the stock an “equal weight” rating in a research note on. Thursday, October 7.

NYSE NTB shares opened at $ 38.18 on Thursday. Bank of NT Butterfield & Son has a one-year low of $ 29.99 and a one-year high of $ 41.36. The company has a debt to equity ratio of 0.18, a current ratio of 0.67, and a quick ratio of 0.67. The company’s 50-day simple moving average is $ 38.13 and its two-hundred-day simple moving average is $ 35.87. The stock has a market cap of $ 2.05 billion, a P / E ratio of 11.68 and a beta of 1.80.

Bank of NT Butterfield & Son (NYSE: NTB) last released its quarterly earnings data on Tuesday, October 26. The bank reported earnings of $ 0.80 per share for the quarter, missing analyst consensus estimates of $ 0.81 per ($ 0.01). The company posted revenue of $ 124.70 million for the quarter, compared to analysts’ expectations of $ 123.53 million. Bank of NT Butterfield & Son had a net margin of 31.69% and a return on equity of 17.12%. The company’s revenue for the quarter increased 2.0% from the same quarter last year. During the same period last year, the company posted $ 0.73 in EPS. As a group, equity analysts expect Bank of NT Butterfield & Son to post earnings per share of 3.26 for the current fiscal year.

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A number of institutional investors have recently changed their positions in NTB. Envestnet Asset Management Inc. increased its holdings of Bank of NT Butterfield & Son shares by 7.0% during the second quarter. Envestnet Asset Management Inc. now owns 86,552 shares of the bank valued at $ 3,068,000 after acquiring an additional 5,684 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in the shares of Bank of NT Butterfield & Son by 6.2% during the second quarter. Grandeur Peak Global Advisors LLC now owns 2,326,272 shares of the bank valued at $ 82,466,000 after acquiring an additional 134,784 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Bank of NT Butterfield & Son during the second quarter valued at $ 250,000. Renaissance Technologies LLC increased its stake in Bank of NT Butterfield & Son shares by 35.7% during the second quarter. Renaissance Technologies LLC now owns 60,800 shares of the bank valued at $ 2,155,000 after acquiring an additional 16,000 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Bank of NT Butterfield & Son shares during the second quarter valued at $ 205,000. 63.03% of the shares are held by institutional investors and hedge funds.

About Bank of NT Butterfield & Son

The Bank of NT Butterfield & Son Ltd. provides community banking and wealth management services. The company operates in the following geographic segments: Bermuda, Cayman Islands, Guernsey, Bahamas, Switzerland and United Kingdom. The Bermuda & Cayman Islands segment provides a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance companies, trust companies and hedge funds.

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