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

Key Points

• Bank of N.T. Butterfield & Son hit a new 52-week high, trading as high as $60.35 and last near $59.87, reflecting strong recent momentum in the stock.
• Analyst views are mixed but generally positive: the stock has a Moderate Buy consensus rating, with Wells Fargo lifting its price target to $61 while Zacks cut the stock to Hold.
• The bank reported solid fundamentals, including Q1 EPS of $1.55, a 3.3% dividend yield, and a payout ratio of 34.6%, while insider activity included a director buy and a CEO share sale.

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $60.35 and last traded at $59.8680, with a volume of 855575 shares trading hands. The stock had previously closed at $60.34.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Zacks Research cut Bank of N.T. Butterfield & Son from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Wells Fargo & Company increased their price objective on Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an "equal weight" rating in a research report on Monday, June 8th. Finally, Weiss Ratings raised Bank of N.T. Butterfield & Son from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Bank of N.T. Butterfield & Son presently has a consensus rating of "Moderate Buy" and an average target price of $56.33.

Bank of N.T. Butterfield & Son Stock Performance

The company has a market cap of $2.51 billion, a PE ratio of 10.36 and a beta of 0.51. The stock's 50-day simple moving average is $56.86 and its 200 day simple moving average is $53.49.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last issued its earnings results on Tuesday, March 31st. The bank reported $1.55 earnings per share 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, sell-side analysts predict that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 13th. This represents a $2.00 annualized dividend and a yield of 3.3%. Bank of N.T. Butterfield & Son's payout ratio is presently 34.60%.

Insider Buying and Selling

In other news, Director Mark T. Lynch purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $564,900.00. Following the acquisition, the director directly owned 234,794 shares in the company, valued at approximately $13,263,513.06. The trade was a 4.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael W. Collins sold 20,621 shares of the firm'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 transaction, the chief executive officer directly owned 60,622 shares of the company's stock, valued at $3,562,754.94. The trade was a 25.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 60,621 shares of company stock valued at $3,557,496. Company insiders own 1.19% of the company's stock.

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

A number of institutional investors have recently bought and sold shares of NTB. Bell Investment Advisors Inc increased its position in shares of Bank of N.T. Butterfield & Son by 284.4% in the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank's stock valued at $26,000 after buying an additional 455 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 worth $34,000 after buying an additional 523 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of 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 worth $46,000 after buying an additional 1,045 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Bank of N.T. Butterfield & Son in the 3rd quarter worth about $56,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at about $67,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Company Profile

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.

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