Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 12-Month High – Should You Buy?

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s share price reached a new 52-week high on Monday . The stock traded as high as $59.37 and last traded at $58.9750, with a volume of 10066 shares trading hands. The stock had previously closed at $58.58.

Analyst Ratings Changes

NTB has been the topic of several research analyst reports. Weiss Ratings raised Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, April 6th. Zacks Research cut Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Wells Fargo & Company upped their target price on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Bank of N.T. Butterfield & Son Price Performance

The company has a market capitalization of $2.48 billion, a PE ratio of 10.23 and a beta of 0.51. The company’s fifty day moving average is $56.66 and its 200-day moving average is $53.27.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $155.93 million for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%. Equities research analysts forecast 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Wednesday, May 13th. Bank of N.T. Butterfield & Son’s dividend payout ratio is 34.60%.

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

In other news, Director Mark T. Lynch bought 10,000 shares of Bank of N.T. Butterfield & Son stock in a transaction on Friday, May 29th. The stock was acquired at an average cost of $56.49 per share, for a total transaction of $564,900.00. Following the completion of the acquisition, the director owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This trade represents a 4.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael W. Collins sold 20,621 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $58.77, for a total transaction of $1,211,896.17. Following the completion of the transaction, the chief executive officer owned 60,622 shares of the company’s stock, valued at $3,562,754.94. This represents a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,621 shares of company stock worth $3,557,496. 1.19% of the stock is owned by corporate insiders.

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

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its position in shares of Bank of N.T. Butterfield & Son by 9.6% in the 1st quarter. Bank of America Corp DE now owns 159,457 shares of the bank’s stock worth $8,368,000 after buying an additional 14,008 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Bank of N.T. Butterfield & Son by 33.9% during the first 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 last quarter. Empowered Funds LLC boosted its stake in Bank of N.T. Butterfield & Son by 5.0% in the first 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 in the last quarter. Infrastructure Capital Advisors LLC boosted its stake in Bank of N.T. Butterfield & Son by 6.2% in the first quarter. Infrastructure Capital Advisors LLC now owns 13,714 shares of the bank’s stock valued at $720,000 after acquiring an additional 802 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Bank of N.T. Butterfield & Son by 47.7% in the first quarter. Quantinno Capital Management LP now owns 13,111 shares of the bank’s stock worth $688,000 after purchasing an additional 4,237 shares during the last quarter. 62.73% of the stock is currently owned by institutional investors.

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.