Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 1-Year High – Still a Buy?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $62.54 and last traded at $62.07, with a volume of 3874 shares trading hands. The stock had previously closed at $62.11.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a report on Thursday, July 2nd. Wells Fargo & Company upped their price target 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. Keefe, Bruyette & Woods increased their price objective on Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a research report on Monday. Finally, Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Bank of N.T. Butterfield & Son Stock Performance

The company’s 50-day moving average price is $59.49 and its 200 day moving average price is $55.43. The stock has a market cap of $2.61 billion, a PE ratio of 10.94 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. The company had revenue of $159.00 million for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. On average, sell-side analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.25 earnings per share for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $2.00 annualized dividend and a yield of 3.2%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 35.15%.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In other news, Director Richard Saunders sold 18,118 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $61.33, for a total transaction of $1,111,176.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Ronald Burns sold 18,566 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $61.27, for a total transaction of $1,137,538.82. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 123,392 shares of company stock worth $7,394,587. Insiders own 1.19% of the company’s stock.

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

Several hedge funds have recently bought and sold shares of the stock. UBS Group AG lifted its position in shares of Bank of N.T. Butterfield & Son by 380.1% during the 4th quarter. UBS Group AG now owns 196,771 shares of the bank’s stock valued at $9,803,000 after buying an additional 155,784 shares in the last quarter. LSV Asset Management increased its holdings in Bank of N.T. Butterfield & Son by 26.5% in the 4th quarter. LSV Asset Management now owns 823,925 shares of the bank’s stock worth $41,048,000 after acquiring an additional 172,666 shares in the last quarter. Tudor Investment Corp ET AL increased its holdings in Bank of N.T. Butterfield & Son by 16.7% in the 3rd quarter. Tudor Investment Corp ET AL now owns 134,841 shares of the bank’s stock worth $5,787,000 after acquiring an additional 19,327 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Bank of N.T. Butterfield & Son during the 1st quarter worth approximately $1,382,000. Finally, Globeflex Capital L P raised its stake in Bank of N.T. Butterfield & Son by 24.1% during the 4th quarter. Globeflex Capital L P now owns 130,399 shares of the bank’s stock worth $6,496,000 after acquiring an additional 25,349 shares during the period. Institutional investors 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.