Bank of N.T. Butterfield & Son (NYSE:NTB) Reaches New 1-Year Low at $27.63

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB – Get Rating)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $27.63 and last traded at $28.43, with a volume of 333927 shares changing hands. The stock had previously closed at $30.09.

Analyst Ratings Changes

Several brokerages have commented on NTB. Piper Sandler cut their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, December 20th. Raymond James lifted their price objective on shares of Bank of N.T. Butterfield & Son from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Wells Fargo & Company lifted their price objective on shares of Bank of N.T. Butterfield & Son from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Bank of N.T. Butterfield & Son from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, February 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and an average target price of $41.50.

Bank of N.T. Butterfield & Son Stock Performance

The company has a market cap of $1.53 billion, a PE ratio of 7.11 and a beta of 1.42. The business’s 50-day moving average is $33.08 and its 200 day moving average is $32.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.63 and a current ratio of 0.63.

Bank of N.T. Butterfield & Son (NYSE:NTB – Get Rating) last issued its earnings results on Tuesday, February 14th. The bank reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. The company had revenue of $148.50 million for the quarter, compared to analysts’ expectations of $140.30 million. Bank of N.T. Butterfield & Son had a net margin of 37.09% and a return on equity of 26.44%. During the same quarter last year, the company earned $0.84 EPS. On average, equities research analysts predict that The Bank of N.T. Butterfield & Son Limited will post 4.82 EPS for the current fiscal year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 14th. Shareholders of record on Monday, February 27th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend was Friday, February 24th. Bank of N.T. Butterfield & Son’s payout ratio is 41.03%.

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

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors increased its position in shares of Bank of N.T. Butterfield & Son by 34.6% in the second quarter. Captrust Financial Advisors now owns 1,178 shares of the bank’s stock valued at $37,000 after acquiring an additional 303 shares during the period. Point72 Middle East FZE purchased a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at about $52,000. Point72 Hong Kong Ltd purchased a new position in shares of Bank of N.T. Butterfield & Son in the second quarter valued at about $61,000. AXS Investments LLC purchased a new position in shares of Bank of N.T. Butterfield & Son in the fourth quarter valued at about $67,000. Finally, Citigroup Inc. increased its position in shares of Bank of N.T. Butterfield & Son by 157.7% in the fourth quarter. Citigroup Inc. now owns 2,907 shares of the bank’s stock valued at $93,000 after acquiring an additional 1,779 shares during the period. Hedge funds and other institutional investors own 68.21% of the company’s stock.

Bank of N.T. Butterfield & Son Company Profile

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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, Guernsey, The Bahamas, Switzerland, and the United Kingdom. The Bermuda and the Cayman Islands segment offers a range of retail and corporate banking services to individuals, local businesses, captive insurers, reinsurance and trust companies, and hedge funds.