Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 52-Week High – Should You Buy?

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

Wall Street Analyst Weigh In

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

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

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 business has a 50 day moving average of $40.10 and a 200 day moving average of $38.54. 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 issued its quarterly 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 during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, research analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th were issued a $0.44 dividend. The ex-dividend date was Wednesday, May 7th. This represents a $1.76 annualized dividend and a yield of 4.06%. 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

Hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its holdings in shares of 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 worth $2,241,000 after acquiring an additional 44,641 shares during the period. Empowered Funds LLC raised its position in shares of Bank of N.T. Butterfield & Son by 19.2% in the 4th quarter. Empowered Funds LLC now owns 155,861 shares of the bank’s stock worth $5,697,000 after buying an additional 25,082 shares during the period. Polaris Capital Management LLC acquired a new position in Bank of N.T. Butterfield & Son in the fourth quarter valued at $2,039,000. Allspring Global Investments Holdings LLC grew its position in Bank of N.T. Butterfield & Son by 2.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 104,131 shares of the bank’s stock valued at $3,806,000 after acquiring an additional 2,927 shares during the period. Finally, Rhumbline Advisers grew its position in Bank of N.T. Butterfield & Son by 2.4% during the fourth quarter. Rhumbline Advisers now owns 93,024 shares of the bank’s stock valued at $3,400,000 after acquiring an additional 2,156 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

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.