Butterfield shares hit $50 mark

  • Bank boost: Butterfield shares rose for a third successive trading day on the BSX

    Bank boost: Butterfield shares rose for a third successive trading day on the BSX

Butterfield Bank shares climbed to the $50 mark in Bermuda Stock Exchange trading yesterday.

The bank, which announced second-quarter profits of nearly $50 million on Tuesday, has seen its stock price rise every day since.

Today Butterfield gained 25 cents, or 0.5 per cent, to close at a new 52-week high of $50 on the trading of 625 shares.

The bank’s US-listed shares fell 72 cents, or 1.4 per cent, to close on $49.51 in New York.

Ascendant Group Ltd fell 24 cents, or 1.5 per cent, to close on $16.25, as 4,300 shares changed hands, the day after the parent company of Belco announced half-year net earnings of $3.2 million.

Insurer Argus Group Holdings Ltd pulled back 10 cents, or 2.4 per cent, to close on $4 as 8,700 shares traded. It capped a week of unusual trading volume for Argus, with 101,700 of its shares changing hands over the five days.

One Communications Ltd remained unchanged on $2.90 as 1,300 shares were exchanged.

The Royal Gazette/BSX Index gained 6.93 points, or 0.24 per cent, to close on 2,838.84.

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Published Jul 28, 2018 at 8:00 am (Updated Jul 28, 2018 at 8:07 am)

Butterfield shares hit $50 mark

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