Capital Research & Management Co recently announced the acquisition of new stake in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB). The institutional investor has increased its shareholding in the Financial company by 4.65% to 2.63 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 5.26% valued currently at $78.26 million. In addition, Hotchkis & Wiley Capital Manageme raised its holdings by 24400.0 to 1.77 million shares.
With over 0.17 million The Bank of N.T. Butterfield & Son Limited (NTB) shares trading Friday and a closing price of $31.47 on the day, the dollar volume was approximately $5.23 million. The shares have shown a negative half year performance of -7.82% and its price on 01/20/23 gained nearly 2.91%. Currently, there are 49.63M common shares owned by the public and among those 49.32M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for NTB have a consensus price objective of $39.60. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $36.00. The average price target is 20.53% above its recent price level and an upside to the estimated low will see the stock gain 12.58% over that period. But an upside of 34.44% will see the stock hit the forecast high price target while median target price for the stock is $38.00.
The top 3 mutual fund holders in The Bank of N.T. Butterfield & Son Limited are Fidelity Small Cap Value Fund, American Funds Small Cap World Fu, and iShares Russell 2000 ETF. Fidelity Small Cap Value Fund owns 1.76 million shares of the company’s stock, all valued at over $52.47 million. American Funds Small Cap World Fu bought 0.25 million shares to see its total holdings expand to 1.76 million shares valued at over $52.35 million and representing 3.52% of the shares outstanding. iShares Russell 2000 ETF sold 11834.0 shares to bring its total holdings to over 1.14 million shares at a value of $33.9 million. iShares Russell 2000 ETF now owns shares totaling to 2.28% of the shares outstanding.
Shares of The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) opened at $30.85, up $0.27 from a prior closing price of $30.58. However, the script later moved the day high at 31.47, up 2.91%. The company’s stock has a 5-day price change of 0.80% and -10.60% over the past three months. NTB shares are trading 5.57% year to date (YTD), with the 12-month market performance down to -19.84% lower. It has a 12-month low price of $28.67 and touched a high of $41.69 over the same period. NTB has an average intraday trading volume of 164.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.85%, -1.66%, and -3.45% respectively.
Institutional ownership of The Bank of N.T. Butterfield & Son Limited (NYSE: NTB) shares accounts for 72.50% of the company’s 49.63M shares outstanding. Mutual fund holders own 25.23%, while other institutional holders and individual stakeholders account for 45.01% and — respectively.
It has a market capitalization of $1.54B and a beta (3y monthly) value of 1.39. The stock’s trailing 12-month PE ratio is 8.14, while the earnings-per-share (ttm) stands at $3.87. The company has a debt-to-equity ratio at 0.23. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.81% over the week and 2.52% over the month.
Analysts forecast that The Bank of N.T. Butterfield & Son Limited (NTB) will achieve an EPS of -$1.64 for the current quarter, -$1.44 for the next quarter and -$2.99 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.64 while analysts give the company a high EPS estimate of -$1.64. Comparatively, EPS for the current quarter was -$4.9 a year ago. Earnings per share for the fiscal year are expected to increase by 12.70%, and 11.78% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate The Bank of N.T. Butterfield & Son Limited (NTB) as a “Hold” at a consensus score of 3.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NTB, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on July 07, 2022, with the firm’s price target at $38. Goldman coverage for the The Bank of N.T. Butterfield & Son Limited (NTB) stock in a research note released on October 08, 2020 offered a Buy rating with a price target of $29. Citigroup on their part issued Neutral rating on January 09, 2020.