Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

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 Bank of N.T. Butterfield & Son Limited (The) from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $33.40.

Bank of N.T. Butterfield & Son Limited (NTB) opened at 36.27 on Thursday. The stock has a market cap of $1.98 billion and a P/E ratio of 23.66. Bank of N.T. Butterfield & Son Limited has a 1-year low of $25.02 and a 1-year high of $37.03. The company’s 50-day moving average price is $34.05 and its 200-day moving average price is $33.61.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.67 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 firm had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $109.32 million. Analysts predict that Bank of N.T. Butterfield & Son Limited will post $2.77 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in NTB. Point72 Asset Management L.P. acquired a new stake in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at approximately $22,417,000. State Street Corp raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 340.7% during the second quarter. State Street Corp now owns 859,224 shares of the bank’s stock valued at $29,300,000 after buying an additional 664,249 shares in the last quarter. FMR LLC raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 25.5% during the second quarter. FMR LLC now owns 2,188,148 shares of the bank’s stock valued at $74,616,000 after buying an additional 445,000 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Bank of N.T. Butterfield & Son Limited (The) by 57.3% during the second quarter. Westfield Capital Management Co. LP now owns 1,117,360 shares of the bank’s stock valued at $38,102,000 after buying an additional 407,205 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Bank of N.T. Butterfield & Son Limited (The) during the first quarter valued at approximately $12,888,000. Hedge funds and other institutional investors own 71.06% of the company’s stock.

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.

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

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