Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 52-Week High – Here’s Why

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) shares reached a new 52-week high during trading on Monday . The company traded as high as $42.31 and last traded at $42.06, with a volume of 23346 shares. The stock had previously closed at $41.09.

Analysts Set New Price Targets

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

Bank of N.T. Butterfield & Son Trading Up 2.8%

The company has a market capitalization of $2.01 billion, a PE ratio of 8.94 and a beta of 0.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.63. The business has a fifty day moving average price of $38.27 and a 200 day moving average price of $37.81.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. During the same period in the previous year, the firm earned $1.17 earnings per share. Bank of N.T. Butterfield & Son’s revenue for the quarter was up 3.8% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, May 7th. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 36.51%.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clear Harbor Asset Management LLC lifted its position in Bank of N.T. Butterfield & Son by 2.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 11,540 shares of the bank’s stock worth $422,000 after acquiring an additional 300 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bank of N.T. Butterfield & Son by 5.1% during the fourth quarter. Legal & General Group Plc now owns 7,697 shares of the bank’s stock worth $281,000 after purchasing an additional 374 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Bank of N.T. Butterfield & Son by 5.6% in the fourth quarter. Stifel Financial Corp now owns 8,273 shares of the bank’s stock valued at $302,000 after purchasing an additional 441 shares during the period. Quarry LP grew its holdings in Bank of N.T. Butterfield & Son by 19.7% during the 4th quarter. Quarry LP now owns 3,069 shares of the bank’s stock valued at $112,000 after purchasing an additional 505 shares in the last quarter. Finally, Strategic Global Advisors LLC grew its holdings in Bank of N.T. Butterfield & Son by 0.4% during the 4th quarter. Strategic Global Advisors LLC now owns 172,742 shares of the bank’s stock valued at $6,314,000 after purchasing an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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.