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NTB

Butterfield

$40.27

1.04 (2.65%)

, DB

Deutsche Bank

$16.26

0.36 (2.26%)

05:46
02/15/18
02/15
05:46
02/15/18
05:46

Butterfield to acquire Deutsche Bank Cayman Islands banking and custody business

The Bank of N.T. Butterfield & Son (NTB) announced that it has entered into an agreement to acquire Deutsche Bank's (DB) banking and custody business in the Cayman Islands, Jersey and Guernsey, which provides services primarily to financial intermediaries and corporate clients. Terms of the agreement were not disclosed. As it seeks to make its operations simpler and more efficient, Deutsche Bank has made a strategic decision to sell its banking and custody business in the Cayman Islands and Channel Islands, and will refer its clients to Butterfield to which they will have the opportunity to transfer their banking relationships. Butterfield, a leading offshore bank and trust company that has operated in Cayman and Guernsey for over 50 years and 45 years, respectively, will work closely with Deutsche Bank to effect a smooth transition of accounts and services. To assist with the transition, as well as the ongoing management and growth of the acquired business, Butterfield intends to offer positions to a majority of those Deutsche Bank employees available to transfer along with the acquired business. This includes employees in Mauritius who provide operations and support services to the Cayman and Channel Islands banking and custody businesses.

NTB

Butterfield

$40.27

1.04 (2.65%)

DB

Deutsche Bank

$16.26

0.36 (2.26%)

NTB Butterfield
$40.27

1.04 (2.65%)

09/25/17
SBSH
09/25/17
DOWNGRADE
Target $37
SBSH
Neutral
Butterfield downgraded to Neutral from Buy at Citi
Citi analyst Keith Horowitz late Friday downgraded N.T. Butterfield & Son to Neutral citing valuation with his unchanged price target of $37 implying only 4% upside.
01/08/18
WELS
01/08/18
UPGRADE
WELS
Outperform
Butterfield upgraded to Outperform from Market Perform at Wells Fargo
01/09/18
WELS
01/09/18
UPGRADE
Target $43
WELS
Outperform
Butterfield upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Timur Braziler upgraded The Bank of N.T. Butterfield & Son to Outperform and raised his price target for the shares to $43 from $36. The recently passed U.S. tax reform does not meaningfully threatens Bermuda's "tax haven" status, even though it becomes relatively less attractive under the current policy, Braziler tells investors in a research note. He does not think Butterfield needs to alter its business model and expects its "conservative, asset sensitive balance sheet" to generate industry leading capital growth.
02/14/18
SBSH
02/14/18
INITIATION
Target $42
SBSH
Neutral
Butterfield assumed with a Neutral at Citi
Citi analyst Arren Cyganovich assumed coverage of N.T. Butterfield & Son with a Neutral rating and raised his price target for the shares to $42 from $37. The analyst sees a lack of catalyst for the shares near-term and views the current valuation as fair.
DB Deutsche Bank
$16.26

0.36 (2.26%)

11/14/17
11/14/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Coca-Cola (KO) upgraded to Outperform from Market Perform at Wells Fargo with analyst Bonnie Herzog saying the shares should be a core holding in 2018 and beyond. 2. Deutsche Bank (DB) upgraded to Buy from Hold at HSBC with analyst Alevizos Alevizakos saying the current valuation seemingly ignores the upside inherent in the bank's improved capital position. 3. Famous Dave's (DAVE) upgraded to Buy from Hold at Craig-Hallum with analyst Alex Fuhrman citing the third quarter results beat, refranchising efforts progressing well and further G&A reductions targeted. 4. ADP (ADP) resumed at Equal Weight, up from Underweight, at Morgan Stanley with analyst Danyal Hussain saying he expects ADP to execute with a greater sense of urgency, but there is still "more work to do" and the proxy fight has put a spotlight on some concerns on which investors will remain focused, including margins and potential share losses, he tells investors. 5. Phoenix New Media (FENG) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/17
KBWI
11/20/17
DOWNGRADE
KBWI
Underperform
Deutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst George Karamanos downgraded Deutsche Bank to Underperform.
11/20/17
11/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wal-Mart (WMT) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler sayign valuation following "powerful" share appreciation now reflects the company's progress in growing earnings. 2. Five Below (FIVE) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba citing valuation. 3. Live Nation (LYV) downgraded to In Line from Outperform at Evercore ISI with analyst David Joyce citing valuation. 4. Monster Beverage (MNST) downgraded to Negative from Neutral at Susquehanna with analyst Pablo Zuanic citing its high valuation, which he believes is misplaced due to assumptions about an offer from Coca-Cola (KO). 5. Deutsche Bank (DB) downgraded to Underperform from Market Perform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/18
02/14/18
DOWNGRADE
Target $48

Hold
Luxoft downgraded to Hold on 'elongated turnaround' at Pivotal Research
As previously reported, Pivotal Research analyst Lou Miscioscia downgraded Luxoft (LXFT) to Hold from Buy, as he now expects most of FY19 to be "a struggle." He had expected the company's two biggest customers - namely Deutsche Bank (DB) and UBS (UBS) - to be about flat for FY19, but now they are suggested to be down 20% and 5%, respectively, Miscioscia said. Noting also that the company cut its FY18 guidance along with its Q3 report, the analyst lowered his price target on Luxoft to $48 from $70.

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CPRX

Catalyst Pharmaceuticals

$2.43

0.085 (3.62%)

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TEVA

Teva

$17.39

-0.26 (-1.47%)

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AMTB

Mercantil Bank

$12.30

(0.00%)

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  • 21

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AXGN

AxoGen

$26.39

-1.14 (-4.14%)

11:38
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AxoGen mentioned cautiously in a Seeking Alpha article 

Reference Link

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AMTB

Mercantil Bank

$12.30

(0.00%)

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Breaking Hot Stocks news story on Mercantil Bank »

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  • 21

    Dec

MXIM

Maxim Integrated

$52.71

0.51 (0.98%)

, INTC

Intel

$48.02

0.93 (1.97%)

11:30
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Recommendations
Maxim Integrated, Intel, Inphi, Cisco, Macom analyst commentary  »

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$52.71

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INTC

Intel

$48.02

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IPHI

Inphi

$33.50

0.96 (2.95%)

CSCO

Cisco

$44.04

-0.17 (-0.38%)

MTSI

Macom

$15.86

0.46 (2.99%)

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  • 04

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    Mar

CBIO

Catalyst Biosciences

$8.93

-0.33 (-3.56%)

11:25
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Conference/Events
Catalyst Biosciences to host research and development day »

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  • 18

    Dec

WCG

WellCare

$231.35

-5.81 (-2.45%)

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WellCare management to meet with Wolfe Research »

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  • 18

    Dec

PM

Philip Morris

$78.59

-2.8 (-3.44%)

, BTI

British American Tobacco

$32.48

-0.25 (-0.76%)

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Fly Intel: Today's top analyst calls on Wall Street »

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PM

Philip Morris

$78.59

-2.8 (-3.44%)

BTI

British American Tobacco

$32.48

-0.25 (-0.76%)

IMBBY

Imperial Brands

$0.00

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TSLA

Tesla

$346.73

-1.57 (-0.45%)

ORCL

Oracle

$45.66

-0.06 (-0.13%)

OSTK

Overstock.com

$13.06

-0.45 (-3.33%)

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  • 15

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USO

United States Oil Fund

$10.10

-0.345 (-3.30%)

11:20
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Options
New 52wk lows prompt bullish risk reversal in US Oil ETF »

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CPS

Cooper-Standard

$64.54

1.26 (1.99%)

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Cooper-Standard announces plans for new world headquarters »

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GT

Goodyear Tire

$20.87

0.31 (1.51%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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LILAK

Liberty Global LiLAC

$16.32

0.01 (0.06%)

11:13
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Conference/Events
Liberty Global LiLAC management to meet with Evercore ISI »

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  • 19

    Dec

  • 20

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EWZ

MSCI Brazil Index

$37.67

0.3644 (0.98%)

11:10
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11:10
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General news
Treasury announced $70 B in shorter dated bill auctions for Thursday »

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RBS

RBS

$5.36

0.15 (2.88%)

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11:08
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General news
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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$256.94

1.82 (0.71%)

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Periodicals
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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$256.94

1.82 (0.71%)

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