Bank of N.T. Butterfield & Son (NTB) Sets New 52-Week High and Low After Dividend Announcement

Shares of Bank of N.T. Butterfield & Son Ltd (NYSE:NTB) reached a new 52-week high and low during trading on Thursday after the company announced a dividend. The stock traded as low as $49.32 and last traded at $49.09, with a volume of 72144 shares changing hands. The stock had previously closed at $48.53.

The newly announced dividend which will be paid on Tuesday, May 15th. Shareholders of record on Friday, May 4th will be paid a $0.38 dividend. The ex-dividend date is Thursday, May 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.10%. Bank of N.T. Butterfield & Son’s payout ratio is presently 53.15%.

A number of equities analysts have issued reports on NTB shares. Zacks Investment Research raised shares of Bank of N.T. Butterfield & Son from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Friday, March 23rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Tuesday, February 27th. Wells Fargo raised shares of Bank of N.T. Butterfield & Son from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Tuesday, January 9th. Sandler O’Neill reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, March 28th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Bank of N.T. Butterfield & Son in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $51.20.

The company has a market cap of $2,659.13, a PE ratio of 17.17, a P/E/G ratio of 2.30 and a beta of 0.47. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.61 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB) last announced its quarterly earnings results on Tuesday, April 24th. The bank reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $119.66 million for the quarter, compared to analysts’ expectations of $116.71 million. Bank of N.T. Butterfield & Son had a net margin of 33.88% and a return on equity of 20.56%. equities analysts predict that Bank of N.T. Butterfield & Son Ltd will post 3.52 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in NTB. Raymond James & Associates boosted its position in shares of Bank of N.T. Butterfield & Son by 10,469.9% during the fourth quarter. Raymond James & Associates now owns 714,736 shares of the bank’s stock worth $25,938,000 after purchasing an additional 707,974 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Bank of N.T. Butterfield & Son by 57.1% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,790,075 shares of the bank’s stock worth $64,962,000 after purchasing an additional 650,850 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new position in shares of Bank of N.T. Butterfield & Son during the fourth quarter worth $11,049,000. Keeley Teton Advisors LLC boosted its position in shares of Bank of N.T. Butterfield & Son by 144.8% during the fourth quarter. Keeley Teton Advisors LLC now owns 448,516 shares of the bank’s stock worth $16,277,000 after purchasing an additional 265,311 shares in the last quarter. Finally, Southpoint Capital Advisors LP boosted its position in shares of Bank of N.T. Butterfield & Son by 16.7% during the fourth quarter. Southpoint Capital Advisors LP now owns 1,400,000 shares of the bank’s stock worth $50,806,000 after purchasing an additional 200,000 shares in the last quarter. 69.76% of the stock is currently owned by institutional investors.

About Bank of N.T. Butterfield & Son

The Bank of N.T. Butterfield & Son Limited (the Bank) provides banking services and wealth management services. The Bank’s geographic segments include Bermuda, the Cayman Islands and Guernsey, where its banking operations are located, and The Bahamas, Switzerland, and the United Kingdom, where it offers specialized financial services.

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