Bank of N.T. Butterfield & Son (NYSE:NTB) has been assigned a $48.00 price objective by equities researchers at Citigroup in a research note issued to investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the bank’s stock. Citigroup‘s price target would indicate a potential upside of 48.19% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods lifted their target price on American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Sunday, July 7th. Wells Fargo & Co restated a “buy” rating and set a $85.00 price target on shares of Carvana in a research note on Monday, July 1st. Finally, Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $44.20.

NTB stock traded down $0.19 during trading on Friday, reaching $32.39. 12,860 shares of the stock were exchanged, compared to its average volume of 252,070. Bank of N.T. Butterfield & Son has a twelve month low of $29.42 and a twelve month high of $53.63. The firm has a market capitalization of $1.78 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.43 and a beta of 1.81. The business’s 50 day simple moving average is $34.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, July 23rd. The bank reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.03. Bank of N.T. Butterfield & Son had a return on equity of 22.69% and a net margin of 34.60%. The business had revenue of $129.40 million for the quarter, compared to the consensus estimate of $133.65 million. During the same period last year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Equities research analysts expect that Bank of N.T. Butterfield & Son will post 3.8 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its stake in Bank of N.T. Butterfield & Son by 44.4% during the first quarter. Raymond James & Associates now owns 1,195,150 shares of the bank’s stock worth $42,882,000 after purchasing an additional 367,663 shares during the period. Macquarie Group Ltd. raised its stake in shares of Bank of N.T. Butterfield & Son by 133.9% in the fourth quarter. Macquarie Group Ltd. now owns 845,569 shares of the bank’s stock valued at $26,509,000 after acquiring an additional 484,016 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Bank of N.T. Butterfield & Son by 8.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 747,515 shares of the bank’s stock valued at $23,435,000 after acquiring an additional 57,763 shares during the last quarter. Manning & Napier Group LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 24.4% in the second quarter. Manning & Napier Group LLC now owns 743,367 shares of the bank’s stock valued at $25,244,000 after acquiring an additional 145,642 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in shares of Bank of N.T. Butterfield & Son by 2.1% in the first quarter. OppenheimerFunds Inc. now owns 563,665 shares of the bank’s stock valued at $20,224,000 after acquiring an additional 11,544 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and non-interest bearing deposits, as well as certificates of deposit. The company's lending portfolio includes residential mortgage lending, automobile financing, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans.

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