Bank of N.T. Butterfield & Son (NYSE:NTB) Sets New 12-Month High – Here’s Why

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $43.85 and last traded at $43.52, with a volume of 28707 shares changing hands. The stock had previously closed at $43.23.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTB shares. Keefe, Bruyette & Woods lifted their price target on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their target price on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th.

Bank of N.T. Butterfield & Son Trading Up 0.4%

The business has a 50 day moving average price of $40.10 and a 200-day moving average price of $38.54. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 9.21 and a beta of 0.64. The company has a quick ratio of 0.66, a current ratio of 0.63 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.27. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.89 million. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 earnings per share. As a group, research analysts expect that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were given a $0.44 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a yield of 4.06%. Bank of N.T. Butterfield & Son’s payout ratio is currently 36.51%.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of hedge funds and other institutional investors have recently modified their holdings of NTB. Barclays PLC grew its stake in Bank of N.T. Butterfield & Son by 276.9% during the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank’s stock valued at $2,241,000 after purchasing an additional 44,641 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $230,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth approximately $359,000. Point72 Asset Management L.P. increased its stake in shares of Bank of N.T. Butterfield & Son by 174.6% in the fourth quarter. Point72 Asset Management L.P. now owns 19,500 shares of the bank’s stock worth $713,000 after buying an additional 12,400 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth $720,000. 62.73% of the stock is owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.