Butterfield repurchased $20m of its shares

  • Butterfield Bank bought 514,137 of its own shares last month

    Butterfield Bank bought 514,137 of its own shares last month

The sharp fall in Butterfield Bank’s share price last month resulted in a buying opportunity for the bank, which repurchased $20 million of its shares.

The shares had been trading at around $50 until a sudden drop on October 24 following the bank’s third-quarter earnings report the previous evening. The stock dipped below $38, but has since partially recovered, and closed yesterday at $41.33.

In a statement, the bank said it repurchased 514,137 of its shares last month at an average price of $39.13 per share.

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Published Nov 6, 2018 at 8:00 am (Updated Nov 6, 2018 at 7:31 am)

Butterfield repurchased $20m of its shares

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