Zacks Investment Research lowered shares of Bank of N.T. Butterfield & Son (NYSE:NTB) from a buy rating to a hold rating in a report published on Thursday, January 4th.

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. “

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A number of other research firms have also commented on NTB. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $38.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Sunday, October 8th. Citigroup lowered Bank of N.T. Butterfield & Son from a buy rating to a neutral rating and set a $37.00 price target on the stock. in a research note on Monday, September 25th.

Shares of Bank of N.T. Butterfield & Son (NTB) traded down $0.01 during mid-day trading on Thursday, hitting $40.55. The stock had a trading volume of 21,325 shares, compared to its average volume of 261,291. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2,214.38, a PE ratio of 14.86, a P/E/G ratio of 2.00 and a beta of 1.56. Bank of N.T. Butterfield & Son has a twelve month low of $29.81 and a twelve month high of $40.83.

Several institutional investors and hedge funds have recently modified their holdings of NTB. Ameritas Investment Partners Inc. grew its position in shares of Bank of N.T. Butterfield & Son by 376.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,723 shares of the bank’s stock worth $161,000 after acquiring an additional 3,732 shares in the last quarter. FNY Partners Fund LP grew its position in shares of Bank of N.T. Butterfield & Son by 472.1% in the 4th quarter. FNY Partners Fund LP now owns 5,000 shares of the bank’s stock worth $181,000 after acquiring an additional 4,126 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Bank of N.T. Butterfield & Son by 7,428.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,722 shares of the bank’s stock worth $195,000 after acquiring an additional 5,646 shares in the last quarter. Quantbot Technologies LP grew its position in shares of Bank of N.T. Butterfield & Son by 20.6% in the 2nd quarter. Quantbot Technologies LP now owns 6,087 shares of the bank’s stock worth $207,000 after acquiring an additional 1,041 shares in the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Bank of N.T. Butterfield & Son in the 2nd quarter worth approximately $242,000. Institutional investors own 72.60% of the company’s stock.

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Bank of N.T. Butterfield & Son 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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