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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $62.55 and last traded at $62.51, with a volume of 144319 shares changing hands. The stock had previously closed at $62.32.

Analyst Ratings Changes

A number of research analysts have issued reports on NTB shares. Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company raised their target price on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $63.50.

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

The company has a market cap of $2.67 billion, a price-to-earnings ratio of 11.19 and a beta of 0.51. The stock’s 50 day moving average price is $60.22 and its 200 day moving average price is $55.94.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Tuesday, June 30th. The bank reported $1.58 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a net margin of 29.34% and a return on equity of 22.43%. The firm had revenue of $159.00 million during the quarter. On average, equities analysts expect 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Bank of N.T. Butterfield & Son’s payout ratio is currently 35.15%.

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

In other Bank of N.T. Butterfield & Son news, Director Michael Mcwatt sold 12,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $61.78, for a total transaction of $741,360.00. Following the completion of the sale, the director owned 22,544 shares of the company’s stock, valued at approximately $1,392,768.32. The trade was a 34.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Andrew Ronald Burns sold 18,566 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $61.27, for a total value of $1,137,538.82. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 140,392 shares of company stock worth $8,433,447. 1.19% of the stock is owned by corporate insiders.

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

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,595,506 shares of the bank’s stock valued at $83,730,000 after buying an additional 33,493 shares during the period. Invesco Ltd. grew its stake in Bank of N.T. Butterfield & Son by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,026,549 shares of the bank’s stock worth $51,143,000 after buying an additional 60,796 shares during the period. Nuveen LLC increased its position in shares of Bank of N.T. Butterfield & Son by 1.2% in the fourth quarter. Nuveen LLC now owns 906,502 shares of the bank’s stock worth $45,162,000 after acquiring an additional 10,852 shares in the last quarter. LSV Asset Management increased its position in shares of Bank of N.T. Butterfield & Son by 26.5% in the fourth 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. Finally, JPMorgan Chase & Co. raised its stake in shares of Bank of N.T. Butterfield & Son by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 704,254 shares of the bank’s stock valued at $35,086,000 after acquiring an additional 10,967 shares during the period. Hedge funds and other 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.