Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 52-Week High – What’s Next?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $59.36 and last traded at $58.64, with a volume of 2288 shares. The stock had previously closed at $58.46.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NTB shares. Weiss Ratings upgraded Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, April 6th. Wells Fargo & Company increased their price target on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, June 8th. Finally, Zacks Research downgraded Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.33.

Bank of N.T. Butterfield & Son Stock Up 0.5%

The firm has a 50-day moving average of $56.21 and a two-hundred day moving average of $52.78. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 10.15 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share for the quarter. The company had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. As a group, sell-side analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio is 34.60%.

Insider Transactions at Bank of N.T. Butterfield & Son

In other news, Director Mark T. Lynch bought 10,000 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the purchase, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG boosted its holdings in shares of Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock worth $9,803,000 after buying an additional 155,784 shares during the period. Tudor Investment Corp ET AL boosted its holdings in Bank of N.T. Butterfield & Son by 16.7% during the third quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock valued at $5,787,000 after acquiring an additional 19,327 shares during the period. LSV Asset Management grew its position in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock valued at $41,048,000 after purchasing an additional 172,666 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Bank of N.T. Butterfield & Son by 97.5% in the third quarter. Quantbot Technologies LP now owns 24,895 shares of the bank’s stock valued at $1,068,000 after purchasing an additional 12,290 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Bank of N.T. Butterfield & Son by 10.2% in the third quarter. American Century Companies Inc. now owns 1,517,705 shares of the bank’s stock worth $65,140,000 after purchasing an additional 140,041 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.