Bank of N.T. Butterfield & Son (NYSE:NTB) Sets New 12-Month High - Should You Buy?

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $42.31 and last traded at $42.06, with a volume of 23346 shares trading hands. The stock had previously closed at $41.09.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted 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. 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.

Bank of N.T. Butterfield & Son Price Performance

The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 8.94 and a beta of 0.66. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The company's 50 day moving average is $38.27 and its 200 day moving average is $37.81.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.27. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. Research analysts anticipate that The 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 announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, May 7th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 4.17%. Bank of N.T. Butterfield & Son's dividend payout ratio (DPR) is currently 36.51%.

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

Several large investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Bank of N.T. Butterfield & Son by 276.9% in the third quarter. Barclays PLC now owns 60,763 shares of the bank's stock valued at $2,241,000 after acquiring an additional 44,641 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $230,000. Y Intercept Hong Kong Ltd acquired a new position in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $359,000. Bailard Inc. purchased a new position in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $720,000. Finally, Ieq Capital LLC acquired a new stake in shares of Bank of N.T. Butterfield & Son in the 4th quarter valued at approximately $493,000. Hedge funds and other 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.

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