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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.36 and last traded at $58.64, with a volume of 2288 shares traded. The stock had previously closed at $58.46.

Wall Street Analyst Weigh In

NTB has been the subject of several analyst reports. Zacks Research lowered Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings raised shares of Bank of N.T. Butterfield & Son from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, April 6th. Finally, Wells Fargo & Company boosted their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Bank of N.T. Butterfield & Son Stock Performance

The company has a 50-day moving average of $56.41 and a 200-day moving average of $52.95. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 10.06 and a beta of 0.51.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $1.55 earnings per share (EPS) for the quarter. Bank of N.T. Butterfield & Son had a return on equity of 21.92% and a net margin of 30.22%.The business had revenue of $155.93 million during the quarter. As a group, analysts anticipate that Bank of N.T. Butterfield & Son Limited will post 6.1 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 34.60%.

Insiders Place Their Bets

In related news, CEO Michael W. Collins sold 20,621 shares of the company’s stock in a transaction 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 approximately $3,562,754.94. This represents a 25.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark T. Lynch bought 10,000 shares of Bank of N.T. Butterfield & Son stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $56.49 per share, with a total value of $564,900.00. Following the completion of the purchase, the director owned 234,794 shares in the company, valued at approximately $13,263,513.06. This trade represents a 4.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 60,621 shares of company stock valued at $3,557,496. Company insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Bank of N.T. Butterfield & Son

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc boosted its position in Bank of N.T. Butterfield & Son by 284.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after acquiring an additional 455 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Bank of N.T. Butterfield & Son by 204.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after acquiring an additional 523 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Bank of N.T. Butterfield & Son by 234.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 959 shares of the bank’s stock worth $42,000 after acquiring an additional 672 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Bank of N.T. Butterfield & Son by 3,371.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,076 shares of the bank’s stock worth $46,000 after acquiring an additional 1,045 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in Bank of N.T. Butterfield & Son during the 3rd quarter worth approximately $56,000. 62.73% of the stock is owned by institutional investors and hedge funds.

About Bank of N.T. Butterfield & Son

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.