Bank of N.T. Butterfield & Son (NYSE:NTB) Hits New 1-Year High Following Strong Earnings

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $41.67 and last traded at $40.14, with a volume of 46849 shares. The stock had previously closed at $37.44.

The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Bank of N.T. Butterfield & Son had a return on equity of 21.14% and a net margin of 25.93%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NTB. Rovida Investment Management Ltd purchased a new stake in shares of Bank of N.T. Butterfield & Son during the 4th quarter worth $65,568,000. Thrivent Financial for Lutherans boosted its holdings in Bank of N.T. Butterfield & Son by 0.6% during the third quarter. Thrivent Financial for Lutherans now owns 1,172,819 shares of the bank’s stock worth $43,254,000 after buying an additional 7,207 shares in the last quarter. American Century Companies Inc. grew its position in Bank of N.T. Butterfield & Son by 9.9% during the fourth quarter. American Century Companies Inc. now owns 1,142,830 shares of the bank’s stock worth $41,770,000 after buying an additional 103,339 shares during the period. JPMorgan Chase & Co. grew its position in Bank of N.T. Butterfield & Son by 4.5% during the third quarter. JPMorgan Chase & Co. now owns 1,124,633 shares of the bank’s stock worth $41,476,000 after buying an additional 48,463 shares during the period. Finally, Davis Selected Advisers increased its holdings in Bank of N.T. Butterfield & Son by 0.5% in the fourth quarter. Davis Selected Advisers now owns 1,076,424 shares of the bank’s stock valued at $39,343,000 after buying an additional 5,712 shares in the last quarter. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Bank of N.T. Butterfield & Son Stock Performance

The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 9.02 and a beta of 1.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50-day moving average price is $36.88 and its 200-day moving average price is $37.10.

About Bank of N.T. Butterfield & Son

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, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.