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

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB)’s share price reached a new 52-week high on Monday . The stock 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.

Wall Street Analyst Weigh In

NTB has been the subject of a number of research reports. Zacks Research lowered shares of Bank of N.T. Butterfield & Son from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wells Fargo & Company upped their price target on shares of Bank of N.T. Butterfield & Son from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. Finally, Weiss Ratings upgraded 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 issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Bank of N.T. Butterfield & Son Stock Down 0.1%

The stock has a market cap of $2.49 billion, a P/E ratio of 10.29 and a beta of 0.51. The firm’s 50-day moving average is $56.99 and its two-hundred day moving average is $53.63.

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

Bank of N.T. Butterfield & Son Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Wednesday, May 13th were issued a $0.50 dividend. The ex-dividend date 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 currently 34.60%.

Insider Buying and Selling at Bank of N.T. Butterfield & Son

In other Bank of N.T. Butterfield & Son news, Director Mark T. Lynch bought 10,000 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $56.49 per share, with a total value of $564,900.00. Following the completion of the transaction, the director directly owned 234,794 shares of the company’s stock, valued at $13,263,513.06. This represents a 4.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Collins sold 20,621 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 60,622 shares in the company, valued at approximately $3,562,754.94. This trade represents a 25.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,621 shares of company stock worth $3,557,496 over the last three months. Company insiders own 1.19% of the company’s stock.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTB. Bell Investment Advisors Inc boosted its position in Bank of N.T. Butterfield & Son by 284.4% during the third quarter. Bell Investment Advisors Inc now owns 615 shares of the bank’s stock worth $26,000 after purchasing an additional 455 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after buying an additional 523 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Bank of N.T. Butterfield & Son by 3,371.0% in the third 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 during the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 3rd quarter worth $56,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $67,000. 62.73% of the stock is currently 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.