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

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

The bank reported $1.34 earnings per share for the quarter, beating 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%.

Institutional Trading of Bank of N.T. Butterfield & Son

A number of institutional investors have recently made changes to their positions in the stock. Truist Financial Corp acquired a new stake in Bank of N.T. Butterfield & Son in the second quarter worth approximately $556,000. SG Americas Securities LLC raised its stake in shares of Bank of N.T. Butterfield & Son by 62.6% in the 3rd quarter. SG Americas Securities LLC now owns 19,129 shares of the bank’s stock worth $705,000 after buying an additional 7,366 shares in the last quarter. CWM LLC raised its position in Bank of N.T. Butterfield & Son by 170.5% in the third quarter. CWM LLC now owns 11,704 shares of the bank’s stock worth $432,000 after acquiring an additional 7,377 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in Bank of N.T. Butterfield & Son by 1.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 22,691 shares of the bank’s stock valued at $837,000 after acquiring an additional 324 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Bank of N.T. Butterfield & Son by 93.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 278,110 shares of the bank’s stock valued at $10,257,000 after purchasing an additional 134,351 shares in the last quarter. 62.73% of the stock is owned by institutional investors and hedge funds.

Bank of N.T. Butterfield & Son Stock Performance

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $37.10. The company has a market cap of $1.93 billion, a P/E ratio of 9.06 and a beta of 1.15.

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.