Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 12-Month High – What’s Next?

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) reached a new 52-week high on Monday . The stock 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.

Wall Street Analyst Weigh In

NTB has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted 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 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 research note on Wednesday, February 12th.

Bank of N.T. Butterfield & Son Stock Performance

The firm’s fifty day moving average price is $38.48 and its 200-day moving average price is $37.88. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.03 billion, a P/E ratio of 9.06 and a beta of 0.66.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, research analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th will be issued a $0.44 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $1.76 annualized dividend and a yield of 4.11%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 36.51%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NTB. GAMMA Investing LLC lifted its stake in Bank of N.T. Butterfield & Son by 216.7% in the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank’s stock valued at $52,000 after acquiring an additional 921 shares during the last quarter. R Squared Ltd bought a new position in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $72,000. Lazard Asset Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $72,000. Quarry LP grew its holdings in shares of 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 during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Bank of N.T. Butterfield & Son by 164.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock valued at $157,000 after purchasing an additional 2,666 shares during the last quarter. 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.