Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 1-Year High – What’s Next?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $61.00 and last traded at $60.7440, with a volume of 1601 shares changing hands. The stock had previously closed at $59.67.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. Wells Fargo & Company increased their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. Finally, Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.33.

Bank of N.T. Butterfield & Son Trading Up 0.3%

The company’s 50 day moving average is $57.32 and its 200 day moving average is $53.87. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 10.52 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The company had revenue of $155.93 million during the quarter. Bank of N.T. Butterfield & Son had a net margin of 30.22% and a return on equity of 21.92%. Analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Wednesday, May 13th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s payout ratio is presently 34.60%.

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

In other news, Director Mark T. Lynch purchased 10,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $56.49 per share, with a total value of $564,900.00. Following the completion of the transaction, the director directly owned 234,794 shares in the company, valued at approximately $13,263,513.06. This represents a 4.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael W. Collins sold 20,621 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $58.77, for a total value of $1,211,896.17. Following the completion of the sale, the chief executive officer owned 60,622 shares of the company’s stock, valued at approximately $3,562,754.94. This represents a 25.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 60,621 shares of company stock valued at $3,557,496. Insiders own 1.19% of the company’s stock.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of large investors have recently bought and sold shares of NTB. Bank of America Corp DE increased its stake in Bank of N.T. Butterfield & Son by 9.6% in the first quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock valued at $8,368,000 after purchasing an additional 14,008 shares during the period. EverSource Wealth Advisors LLC increased its position in Bank of N.T. Butterfield & Son by 33.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the bank’s stock valued at $95,000 after acquiring an additional 456 shares during the period. Empowered Funds LLC raised its stake in Bank of N.T. Butterfield & Son by 5.0% during the 1st quarter. Empowered Funds LLC now owns 180,408 shares of the bank’s stock valued at $9,468,000 after acquiring an additional 8,573 shares during the last quarter. Infrastructure Capital Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 6.2% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank’s stock worth $720,000 after acquiring an additional 802 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Bank of N.T. Butterfield & Son by 47.7% in the 1st quarter. Quantinno Capital Management LP now owns 13,111 shares of the bank’s stock valued at $688,000 after purchasing an additional 4,237 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

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.