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) hit a new 52-week high on Tuesday . The stock traded as high as $61.00 and last traded at $60.7440, with a volume of 1601 shares. The stock had previously closed at $59.67.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NTB shares. Weiss Ratings reissued a “buy (a-)” rating on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.33.

Bank of N.T. Butterfield & Son Stock Performance

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 10.52 and a beta of 0.51. The business has a fifty day moving average of $57.32 and a two-hundred day moving average of $53.87.

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

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders 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 dividend payout ratio is 34.60%.

Insider Buying and Selling

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch acquired 10,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of $56.49 per share, with a total value of $564,900.00. Following the purchase, the director directly owned 234,794 shares in the company, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael W. Collins sold 20,621 shares of the company’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 directly owned 60,622 shares in the company, valued at approximately $3,562,754.94. The trade was a 25.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 60,621 shares of company stock valued at $3,557,496. Corporate insiders own 1.19% of the company’s stock.

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

Large investors have recently made changes to their positions in the stock. Bell Investment Advisors Inc increased its position in Bank of N.T. Butterfield & Son by 284.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after purchasing an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Bank of N.T. Butterfield & Son by 204.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock valued at $34,000 after purchasing an additional 523 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Bank of N.T. Butterfield & Son by 3,371.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth about $56,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

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.