Wells Fargo raised the firm’s price target on N.T. Butterfield (NTB) to $57 from $50 and keeps an Equal Weight rating on the shares. The firm says that the better revenue and credit trends lead it to increase its estimates and target, but are also partly overshadowed by negative balance sheet growth. Short term, seasonal headwinds make quarter-over-quarter comparisons tough and balance sheet contraction in the first half of 2026 cause Wells some caution.
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