Bank of N.T. Butterfield & Son (NYSE:NTB) Price Target Raised to $46.00

On February 15, 2025, Wells Fargo & Company increased its price target for Bank of N.T. Butterfield & Son (NYSE:NTB) from $43.00 to $46.00. This adjustment was detailed in a research report that was published on Wednesday. Notably, Wells Fargo has assigned an overweight rating to the bank's stock, suggesting a bullish outlook.

Bank of N.T. Butterfield & Son Stock Performance

As of Wednesday, shares of Bank of N.T. Butterfield & Son opened at $40.25. The bank has a market capitalization of approximately $1.91 billion and displays a price-to-earnings (PE) ratio of 8.96, along with a beta of 1.15. The stock's 50-day moving average stands at $37.08, while the 200-day moving average is slightly higher at $37.16. Financial metrics show a quick ratio of 0.66, a current ratio of 0.66, and a low debt-to-equity ratio of 0.09. Over the past year, Bank of N.T. Butterfield & Son has reached a low of $29.06 and a high of $41.88.

Recent Earnings Announcement

Bank of N.T. Butterfield & Son reported its quarterly earnings on February 10, 2025. The bank's earnings per share (EPS) came in at $1.34, which exceeded analysts' expectations of $1.17 by a significant margin of $0.17. The bank showcased a solid return on equity of 21.14% and a net profit margin of 25.93%. According to forecasts, analysts anticipate that the bank will achieve earnings of $4.52 per share for the current fiscal year.

Institutional Investment Activity

In recent months, institutional investors have made notable adjustments to their stakes in Bank of N.T. Butterfield & Son. For instance, Rovida Investment Management Ltd made a significant entry by acquiring a new stake valued at approximately $65.57 million in the fourth quarter. Additionally, Jacobs Levy Equity Management Inc. increased its holdings by an impressive 538.3% during the third quarter, now owning 308,496 shares worth about $11.38 million after adding 260,168 shares. Norges Bank also entered the picture with a new stake worth around $5.7 million in the same period. Meanwhile, LSV Asset Management raised its position by 63.8% in the fourth quarter, owning 347,499 shares valued at approximately $12.7 million. Assenagon Asset Management S.A. also significantly increased its investment by 93.5% in the third quarter. Currently, institutional investors and hedge funds hold 62.73% of the bank's stock.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Ltd. provides community banking services and wealth management solutions. The company operates across various geographical segments, including Bermuda, the Cayman Islands, the Channel Islands, the UK, and other regions. The segments based in Bermuda and the Cayman Islands primarily focus on retail banking and wealth management services.

Banking, Investors, Earnings