Downgrades Overweight Eq Weight X

NTB Bank of N.T. Butterfield & Son

Wells Fargo

$50

Downgrades Outperform Mkt Perform X

NTB Bank of N.T. Butterfield & Son

Keefe Bruyette

$44 $41

Upgrades Eq Weight Overweight X

NTB Bank of N.T. Butterfield & Son

Wells Fargo

$38

Downgrades Outperform Mkt Perform X

NTB Bank of N.T. Butterfield & Son

Keefe Bruyette

$51 $41

Upgrades Neutral Buy X

NTB Bank of N.T. Butterfield & Son

Citigroup

Upgrades Underperform Neutral X

NTB Bank of N.T. Butterfield & Son

Robert W. Baird

Resumed Neutral X

NTB Bank of N.T. Butterfield & Son

Citigroup

$42

NTB  Bank of N.T. Butterfield & Son Limited (The) Voting

The Bank of NT Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank's geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services. It offers banking services, including retail and corporate banking, and wealth management, which consists of trust, private banking, and asset management. In Bermuda and Cayman Islands segments, it offers both banking and wealth management. In Guernsey, Bahamas, and Switzerland segments, it offers wealth management. In the United Kingdom segment, it offers residential property lending. The Bank provides foreign exchange services in the normal course of business in all jurisdictions. Its wealth management platform has three lines of business: trust, private banking, and asset management.