Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 52-Week High at $36.06

Shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $36.06 and last traded at $35.98, with a volume of 75742 shares changing hands. The stock had previously closed at $35.63.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NTB shares. Keefe, Bruyette & Woods decreased their price target on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, February 14th. Raymond James reaffirmed an "outperform" rating and set a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.80.

Bank of N.T. Butterfield & Son Stock Performance

The company has a 50 day moving average price of $32.29 and a 200 day moving average price of $30.67. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 8.05 and a beta of 1.24.

Bank of N.T. Butterfield & Son (NYSE:NTB - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.21. The firm had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 27.95% and a return on equity of 23.18%. The business's quarterly revenue was down 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.24 earnings per share. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Monday, May 6th. Bank of N.T. Butterfield & Son's dividend payout ratio is 39.55%.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in Bank of N.T. Butterfield & Son in the 4th quarter worth about $10,909,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Bank of N.T. Butterfield & Son by 66.7% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 666,029 shares of the bank's stock worth $21,320,000 after acquiring an additional 266,450 shares during the period. Mendon Capital Advisors Corp purchased a new position in Bank of N.T. Butterfield & Son in the fourth quarter worth $7,202,000. Adage Capital Partners GP L.L.C. grew its stake in Bank of N.T. Butterfield & Son by 11.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,766,718 shares of the bank's stock valued at $47,843,000 after purchasing an additional 182,265 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Bank of N.T. Butterfield & Son by 20.8% during the 3rd quarter. Vanguard Group Inc. now owns 810,156 shares of the bank's stock valued at $21,939,000 after purchasing an additional 139,485 shares during the last quarter. 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 Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.