NTB - NTB: We Know Of No Other Bank Generating ROE In Excess Of 20% And Offering 9% Dividend Yield
2024-07-16 10:10:00 ET
Summary
- One of NTB's key strengths lies in its well-established trust and asset management business, which offers wealth management services to high-net-worth individuals, family offices, and institutional/corporate clients.
- Over the last five years, the company has earned an average return on equity of 23% - and this return has actually increased with higher interest rates (the return on equity was 27% in 2023).
- We aren't alone in viewing NTB equity as undervalued - the folks running the bank agree and the company has been repurchasing shares.
The following segment was excerpted from this fund letter.
Bank of N.T. Butterfield ( NTB )
Bank of N.T. Butterfield is an offshore bank and trust company operating in Bermuda, the Cayman Islands, the Bahamas, and the United Kingdom. With a strong presence in Bermuda and the Cayman Islands, holding over 30% of the deposit market share, Butterfield provides a range of banking services to a diverse clientele, ranging from high-net-worth individuals to reinsurance companies and hedge funds....
NTB: We Know Of No Other Bank Generating ROE In Excess Of 20% And Offering 9% Dividend Yield