Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 52-Week High - Time to Buy?

Shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $45.60 and last traded at $45.34, with a volume of 72894 shares. The stock had previously closed at $44.28.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their target price on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the company a "market perform" rating in a research note on Friday, April 25th.

Bank of N.T. Butterfield & Son Price Performance

The stock has a market capitalization of $2.15 billion, a P/E ratio of 9.40 and a beta of 0.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a fifty day moving average price of $42.11 and a two-hundred day moving average price of $39.12.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.54% and a return on equity of 21.30%. The firm had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. During the same quarter in the prior year, the business earned $1.17 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts expect that Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 36.51%.

Institutional Investors Weigh In On Bank of N.T. Butterfield & Son

Several hedge funds and other institutional investors have recently modified their holdings of NTB. GAMMA Investing LLC grew its holdings in Bank of N.T. Butterfield & Son by 216.7% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the bank's stock valued at $52,000 after purchasing an additional 921 shares during the period. Lazard Asset Management LLC purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter valued at about $72,000. Quarry LP lifted its position in shares of Bank of N.T. Butterfield & Son by 19.7% during the 4th quarter. Quarry LP now owns 3,069 shares of the bank's stock valued at $112,000 after buying an additional 505 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Bank of N.T. Butterfield & Son by 164.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock valued at $157,000 after acquiring an additional 2,666 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Bank of N.T. Butterfield & Son in the 1st quarter worth approximately $201,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.

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