Zacks Investment Research downgraded shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) from a buy rating to a hold rating in a report released on Saturday morning.

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 33.20 on Friday. The firm has a 50-day moving average of $34.05 and a 200 day moving average of $33.32. The firm has a market cap of $1.81 billion and a PE ratio of 21.66. 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 results on Tuesday, July 25th. The bank reported $0.67 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.67. Bank of N.T. Butterfield & Son Limited (The) had a return on equity of 17.93% and a net margin of 19.54%. The company had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $109.32 million. Equities research analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.76 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, August 28th. Investors 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 3.86%. Bank of N.T. Butterfield & Son Limited (The)’s dividend payout ratio is presently 84.21%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its position in Bank of N.T. Butterfield & Son Limited (The) by 376.6% in the second quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock worth $161,000 after buying an additional 3,732 shares in the last quarter. Quantbot Technologies LP acquired a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth approximately $161,000. BNP Paribas Arbitrage SA boosted its position in Bank of N.T. Butterfield & Son Limited (The) by 7,428.9% in the second quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the bank’s stock worth $195,000 after buying an additional 5,646 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Bank of N.T. Butterfield & Son Limited (The) during the first quarter worth approximately $190,000. Finally, Amalgamated Bank acquired a new position in Bank of N.T. Butterfield & Son Limited (The) during the second quarter worth approximately $242,000. 71.25% of the stock is currently owned by 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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