Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 12-Month High After Earnings Beat

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)’s share price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $41.67 and last traded at $40.14, with a volume of 46849 shares trading hands. The stock had previously closed at $37.44.

The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a net margin of 25.93% and a return on equity of 21.14%.

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

Several hedge funds have recently modified their holdings of the stock. Magnetar Financial LLC grew its position in Bank of N.T. Butterfield & Son by 43.2% in the fourth quarter. Magnetar Financial LLC now owns 26,278 shares of the bank’s stock valued at $960,000 after acquiring an additional 7,932 shares in the last quarter. Intech Investment Management LLC grew its holdings in Bank of N.T. Butterfield & Son by 301.7% during the 4th quarter. Intech Investment Management LLC now owns 29,556 shares of the bank’s stock valued at $1,080,000 after purchasing an additional 22,199 shares in the last quarter. Davis Selected Advisers increased its stake in Bank of N.T. Butterfield & Son by 0.5% during the 4th quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank’s stock worth $39,343,000 after buying an additional 5,712 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $219,000. Finally, Victory Capital Management Inc. boosted its holdings in Bank of N.T. Butterfield & Son by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 502,400 shares of the bank’s stock valued at $18,363,000 after purchasing an additional 43,190 shares during the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Up 8.7 %

The firm has a fifty day simple moving average of $36.88 and a 200-day simple moving average of $37.10. The company has a market capitalization of $1.93 billion, a PE ratio of 9.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66.

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.