Fintel reports that on October 5, 2023, Raymond James maintained coverage of Bank of N T Butterfield & Son (NYSE:NTB) with a Outperform recommendation.
Analyst Price Forecast Suggests 46.98% Upside
As of October 5, 2023, the average one-year price target for Bank of N T Butterfield & Son is 38.96. The forecasts range from a low of 33.33 to a high of $44.10. The average price target represents an increase of 46.98% from its latest reported closing price of 26.51.
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The projected annual revenue for Bank of N T Butterfield & Son is 611MM, an increase of 5.13%. The projected annual non-GAAP EPS is 4.95.
What is the Fund Sentiment?
There are 379 funds or institutions reporting positions in Bank of N T Butterfield & Son. This is a decrease of 26 owner(s) or 6.42% in the last quarter. Average portfolio weight of all funds dedicated to NTB is 0.26%, a decrease of 1.49%. Total shares owned by institutions decreased in the last three months by 7.75% to 44,665K shares. 
The put/call ratio of NTB is 2.43, indicating a bearish outlook.
What are Other Shareholders Doing?
Davis Selected Advisers holds 3,222K shares representing 6.56% ownership of the company. In it's prior filing, the firm reported owning 3,261K shares, representing a decrease of 1.20%. The firm decreased its portfolio allocation in NTB by 7.69% over the last quarter.
Hotchkis & Wiley Capital Management holds 1,849K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 1,862K shares, representing a decrease of 0.67%. The firm decreased its portfolio allocation in NTB by 3.10% over the last quarter.
Rovida Advisors holds 1,793K shares representing 3.65% ownership of the company. No change in the last quarter.
FCPVX - Fidelity Small Cap Value Fund holds 1,760K shares representing 3.58% ownership of the company. No change in the last quarter.
Adage Capital Partners Gp, L.l.c. holds 1,584K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 1,196K shares, representing an increase of 24.53%. The firm increased its portfolio allocation in NTB by 30.06% over the last quarter.
Bank of N T Butterfield & Son Background Information
(This description is provided by the company.)
Butterfield is a full-service bank and wealth manager headquartered in Hamilton, Bermuda, providing services to clients from Bermuda, the Cayman Islands, Guernsey and Jersey, where its principal banking operations are located, and The Bahamas, Switzerland, Singapore and the United Kingdom, where Butterfield offers specialized financial services. Banking services comprise deposit, cash management and lending solutions for individual, business and institutional clients. Wealth management services are composed of trust, private banking, asset management and custody. In Bermuda, the Cayman Islands and Guernsey, Butterfield offers both banking and wealth management. In The Bahamas, Singapore and Switzerland, Butterfield offers select wealth management services. In the UK, Butterfield offers residential property lending. In Jersey, Butterfield offers select banking and wealth management services.
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