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

Shares of Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.63 and last traded at $44.48, with a volume of 21128 shares traded. The stock had previously closed at $43.76.

Analysts Set New Price Targets

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

Bank of N.T. Butterfield & Son Stock Down 0.8%

The firm has a market cap of $2.12 billion, a P/E ratio of 9.24 and a beta of 0.64. The company's 50-day simple moving average is $41.82 and its 200 day simple moving average is $39.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.65 and a quick ratio of 0.65.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a return on equity of 21.30% and a net margin of 26.54%. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. During the same quarter last year, the business posted $1.17 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. Research analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.95%. Bank of N.T. Butterfield & Son's dividend payout ratio is presently 36.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTB. Rovida Investment Management Ltd bought a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at about $65,568,000. American Century Companies Inc. grew its position in Bank of N.T. Butterfield & Son by 10.0% in the 1st quarter. American Century Companies Inc. now owns 1,257,197 shares of the bank's stock valued at $48,930,000 after acquiring an additional 114,367 shares during the last quarter. Davis Selected Advisers increased its stake in Bank of N.T. Butterfield & Son by 0.5% in the fourth quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank's stock worth $39,343,000 after purchasing an additional 5,712 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Bank of N.T. Butterfield & Son by 8.6% during the first quarter. Westwood Holdings Group Inc. now owns 993,807 shares of the bank's stock valued at $38,679,000 after purchasing an additional 78,342 shares during the period. Finally, Invesco Ltd. lifted its holdings in Bank of N.T. Butterfield & Son by 1.7% during the 1st quarter. Invesco Ltd. now owns 883,728 shares of the bank's stock valued at $34,395,000 after buying an additional 14,840 shares in the last quarter. Institutional investors own 62.73% of the company's stock.

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.