Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 12-Month High - Here's Why

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $43.10 and last traded at $43.04, with a volume of 116999 shares changing hands. The stock had previously closed at $42.60.

Analyst Ratings Changes

Several brokerages have commented on NTB. Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $43.00 to $46.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods raised their price target on shares of Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th.

Bank of N.T. Butterfield & Son Stock Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of 9.15 and a beta of 0.64. The company's fifty day simple moving average is $40.02 and its 200 day simple moving average is $38.49. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.27. Bank of N.T. Butterfield & Son had a net margin of 26.51% and a return on equity of 21.46%. The company had revenue of $148.20 million for the quarter, compared to analysts' expectations of $140.89 million. During the same quarter last year, the company earned $1.17 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Investors of record on Wednesday, May 7th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date was Wednesday, May 7th. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is presently 36.51%.

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

Several institutional investors have recently modified their holdings of NTB. Barclays PLC raised its holdings in Bank of N.T. Butterfield & Son by 276.9% in the 3rd quarter. Barclays PLC now owns 60,763 shares of the bank's stock worth $2,241,000 after purchasing an additional 44,641 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $230,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son in the fourth quarter worth about $359,000. Point72 Asset Management L.P. boosted its stake in Bank of N.T. Butterfield & Son by 174.6% during the fourth quarter. Point72 Asset Management L.P. now owns 19,500 shares of the bank's stock valued at $713,000 after buying an additional 12,400 shares during the last quarter. Finally, Bailard Inc. purchased a new position in Bank of N.T. Butterfield & Son during the 4th quarter valued at approximately $720,000. 62.73% of the stock is owned by hedge funds and other 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.