Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 52-Week High - Here's What Happened

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $43.85 and last traded at $43.52, with a volume of 28707 shares traded. The stock had previously closed at $43.23.

Wall Street Analysts Forecast Growth

NTB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price 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. Wells Fargo & Company increased their price target on 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.

Bank of N.T. Butterfield & Son Trading Down 0.9%

The company's fifty day simple moving average is $40.22 and its 200-day simple moving average is $38.57. The firm has a market capitalization of $2.04 billion, a PE ratio of 9.11 and a beta of 0.64. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.63 and a quick ratio of 0.66.

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 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 26.51% and a return on equity of 21.46%. The firm had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The company's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect 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 company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders 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 4.09%. Bank of N.T. Butterfield & Son's payout ratio is currently 36.51%.

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

A number of institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in Bank of N.T. Butterfield & Son in the 1st quarter valued at $736,000. Acadian Asset Management LLC acquired a new stake in Bank of N.T. Butterfield & Son in the 1st quarter valued at about $945,000. Jane Street Group LLC lifted its stake in Bank of N.T. Butterfield & Son by 80.3% in the 1st quarter. Jane Street Group LLC now owns 70,537 shares of the bank's stock worth $2,745,000 after purchasing an additional 31,420 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Bank of N.T. Butterfield & Son by 2.1% in the first quarter. Empowered Funds LLC now owns 159,061 shares of the bank's stock valued at $6,191,000 after purchasing an additional 3,200 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Bank of N.T. Butterfield & Son by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank's stock worth $1,027,000 after buying an additional 1,148 shares during the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

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.