Butterfield (NTB)
Deposit-funded island banking paired with international trust, private banking, and asset management.
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Runs retail and corporate banking in Bermuda and the Cayman Islands while providing private banking, property lending, asset management, custody, and trust services across international financial centers. Customer deposits fund loans and securities, while fiduciary and investment activities generate fees alongside interest income.
Runs deposit-funded retail and corporate banking franchises in Bermuda and the Cayman Islands, alongside private banking, residential property lending, asset management, custody, and trust services. Channel Islands and UK operations center on wealth management and property lending, with additional operations spanning The Bahamas, Canada, Mauritius, Singapore, and Switzerland.
Earns interest from loans and a securities portfolio funded largely by customer deposits, plus fees from trust, asset management, banking, foreign exchange, and custody work. Its local deposit franchises complement specialist fiduciary administration, and the completed Rawlinson & Hunter Guernsey acquisition added scale to private trust operations. Results remain sensitive to interest rates, deposit volumes, credit quality, and market-linked fee activity. Banking and trust entities operate under separate regulators across multiple jurisdictions, with Bermuda oversight anchored by the Bermuda Monetary Authority.
Company facts
Categories
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 8, 2026 | Wells Fargo | Reiterate | Equal Weight | $57 | $61 | |
| Feb 12, 2026 | Wells Fargo | Reiterate | Equal Weight | $50 | $57 | |
| Sep 29, 2025 | Wells Fargo | Downgrade | Overweight | Equal Weight | $50 | |
| Oct 2, 2024 | Keefe, Bruyette & Woods | Downgrade | Outperform | Market Perform |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $7.97B · Total debt $39.1M · Total assets $14.35B · Shareholders' equity $1.15B
- Revenue
- $159.9M
- Operating income
- $48.5M
- Net income
- $46.9M
Raised for 12 straight years — most recently to $0.50 from $0.44 in Aug 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 12, 2026 | Aug 12 | Aug 26 | $0.50 | |
| May 13, 2026 | May 13 | May 26 | $0.50 | |
| Feb 23, 2026 | Feb 23 | Mar 9 | $0.50 | |
| Nov 10, 2025 | Nov 11 | Nov 25 | $0.50 | |
| Aug 11, 2025 | Aug 11 | Aug 25 | $0.50 | raised from $0.44 |
| May 7, 2025 | May 7 | May 21 | $0.44 | |
| Feb 24, 2025 | Feb 24 | Mar 10 | $0.44 | |
| Nov 5, 2024 | Nov 5 | Nov 19 | $0.44 |
| Institutions253 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | ≈ 72.01% | 28.77M ADS | |
| Insiders13 holders · as of Aug 26, 2026 | 1.65% | 658.5K ADS | |
| Otherremainder | ≈ 26.34% | 10.52M ADS |
39.95M ADS as of Sep 3, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
FMR LLCInstitution | 6.41% | 2.56M ADS | 13Fas of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.97% | 2.39M ADS | 13Fas of Jun 30, 2026 |
Rovida Investment Management LtdInstitution | 4.49% | 1.79M ADS | 13Fas of Jun 30, 2026 |
American Century Companies IncInstitution | 4.32% | 1.73M ADS | 13Fas of Jun 30, 2026 |
Dimensional Fund Advisors LPInstitution | 4.00% | 1.60M ADS | 13Fas of Jun 30, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Michael McWatt | officer: Managing Director, Cayman | −9,000 | $58.41 |
| Aug 18, 2026 | Jane Pearce | officer: Managing Director, Trust | −16,368 | $61.78 |
| Aug 19, 2026 | Michael W. Collins | officer: Chief Executive Officer | −61,178 | $59.67 |
| Aug 18, 2026 | Michael W. Collins | officer: Chief Executive Officer | −70,859 | $61.79 |
| Aug 17, 2026 | Michael W. Collins | officer: Chief Executive Officer | −75,000 | $62.98 |
- HSBC (ADR)
Bermuda banking and wealth overlap through HSBC Bank Bermuda
- Scotiabank
Cayman banking rival through Scotiabank & Trust (Cayman)
- CIBC
CIBC Caribbean overlaps in Cayman and regional relationship banking
- Royal Bank of Canada
Cayman and Caribbean banking overlap through RBC Royal Bank
- JPMorgan Chase
Global private-bank, trust, and custody competitor
- NatWest Group (ADR)
Channel Islands and UK offshore banking overlap
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Butterfield | $59.58 | −0.07% | $2.36B | 10.5 | 9.4 | 3.3 | −20.1% |
| HSBC (ADR) | $105.13 | +0.19% | $360.65B | 15.1 | 12.1 | 2.8 | +32.2% |
| Scotiabank | $93.35 | +0.01% | $113.75B | 16.9 | 14.8 | 2.2 | −42.3% |
| CIBC | $115.16 | −0.44% | $107.17B | 15.4 | 14.4 | 2.4 | −17.4% |
| Royal Bank of Canada | $207.64 | −0.11% | $288.88B | 18.1 | 17.6 | 2.8 | −22.1% |
| JPMorgan Chase | $356.92 | +0.19% | $954.50B | 15.3 | 14.8 | 3.2 | +27.8% |
| NatWest Group (ADR) | $18.63 | +0.24% | $37.01B | 5.3 | 14.1 | 1.8 | +51.9% |
| Median | 15.4 | 14.6 | 2.6 | +5.2% |