Wells Fargo & Company Issues Positive Forecast for Bank of N.T. Butterfield & Son (NYSE:NTB) Stock Price

Bank of N.T. Butterfield & Son (NYSE:NTB) had its price objective increased by Wells Fargo & Company from $43.00 to $46.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the bank’s stock.

Bank of N.T. Butterfield & Son Price Performance

Shares of Bank of N.T. Butterfield & Son stock opened at $41.29 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.09. Bank of N.T. Butterfield & Son has a 52 week low of $28.73 and a 52 week high of $41.88. The stock’s 50-day simple moving average is $36.94 and its 200-day simple moving average is $37.11. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.20 and a beta of 1.15.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Monday, February 10th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%. As a group, analysts expect that Bank of N.T. Butterfield & Son will post 4.52 earnings per share for the current fiscal year.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Rovida Investment Management Ltd bought a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $65,568,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Bank of N.T. Butterfield & Son by 538.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 308,496 shares of the bank’s stock worth $11,377,000 after buying an additional 260,168 shares in the last quarter. Norges Bank bought a new position in Bank of N.T. Butterfield & Son during the fourth quarter valued at approximately $5,700,000. Assenagon Asset Management S.A. boosted its stake in Bank of N.T. Butterfield & Son by 93.5% during the third quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after buying an additional 134,351 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Bank of N.T. Butterfield & Son by 9.9% during the 4th quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock valued at $41,770,000 after buying an additional 103,339 shares in the last quarter. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.