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 research note published on Wednesday. They currently have $40.00 price target 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. “

Separately, Citigroup Inc. cut shares of Bank of N.T. Butterfield & Son Limited (The) from a buy rating to a neutral rating and set a $37.00 target price on the stock. in a report on Monday, September 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Bank of N.T. Butterfield & Son Limited (The) presently has a consensus rating of Hold and an average target price of $33.40.

Bank of N.T. Butterfield & Son Limited (NYSE:NTB) traded up 0.63% on Wednesday, reaching $36.64. 327,549 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.00 billion and a price-to-earnings ratio of 23.90. The stock’s 50 day moving average price is $33.42 and its 200 day moving average price is $33.40. Bank of N.T. Butterfield & Son Limited has a 1-year low of $23.75 and a 1-year high of $36.70.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last issued its earnings results on Tuesday, July 25th. The bank reported $0.67 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.67. The company had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $109.32 million. Bank of N.T. Butterfield & Son Limited (The) had a net margin of 19.54% and a return on equity of 17.93%. On average, analysts expect that Bank of N.T. Butterfield & Son Limited will post $2.77 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Bank of N.T. Butterfield & Son Limited (The) (NTB) Upgraded at Zacks Investment Research” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.watchlistnews.com/bank-of-n-t-butterfield-son-limited-the-ntb-upgraded-at-zacks-investment-research/1599074.html.

Several large investors have recently modified their holdings of the business. Westfield Capital Management Co. LP acquired a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) in the 1st quarter worth about $22,661,000. Point72 Asset Management L.P. acquired a new stake in shares of Bank of N.T. Butterfield & Son Limited (The) in the 1st quarter worth about $22,417,000. State Street Corp increased its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 340.7% in the 2nd quarter. State Street Corp now owns 859,224 shares of the bank’s stock worth $29,300,000 after acquiring an additional 664,249 shares during the period. Monashee Investment Management LLC increased its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 1,125.6% in the 1st quarter. Monashee Investment Management LLC now owns 500,000 shares of the bank’s stock worth $15,955,000 after acquiring an additional 459,203 shares during the period. Finally, FMR LLC increased its holdings in shares of Bank of N.T. Butterfield & Son Limited (The) by 25.5% in the 2nd quarter. FMR LLC now owns 2,188,148 shares of the bank’s stock worth $74,616,000 after acquiring an additional 445,000 shares during the period. 71.06% of the stock is currently owned by institutional investors.

About Bank of N.T. Butterfield & Son Limited (The)

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.

Get a free copy of the Zacks research report on Bank of N.T. Butterfield & Son Limited (The) (NTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)

Receive News & Ratings for Bank of N.T. Butterfield & Son Limited (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of N.T. Butterfield & Son Limited (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.