Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 1-Year High - Here's Why

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $44.63 and last traded at $44.48, with a volume of 21128 shares trading hands. The stock had previously closed at $43.76.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted 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 Stock Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 9.21 and a beta of 0.64. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.09. The firm has a 50-day simple moving average of $41.39 and a two-hundred day simple moving average of $38.88.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.17 earnings per share. As a group, sell-side analysts forecast that Bank of N.T. Butterfield & Son Limited will post 4.4 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 was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were issued a dividend of $0.44 per share. The ex-dividend date was Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.96%. Bank of N.T. Butterfield & Son's dividend payout ratio is currently 36.51%.

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

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position 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 worth $52,000 after purchasing an additional 921 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $72,000. Quarry LP boosted its holdings 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 worth $112,000 after buying an additional 505 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Bank of N.T. Butterfield & Son by 164.2% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank's stock valued at $157,000 after buying an additional 2,666 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Bank of N.T. Butterfield & Son in the 1st quarter worth $201,000. 62.73% of the stock is currently owned by institutional investors.

Bank of N.T. Butterfield & Son Company Profile

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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