Butterfield shares get post-earnings boost
Created: Jul 25, 2018 01:00 AM (Updated: Jul 25, 2018 06:39 PM)
Strong rally: Butterfield shares surged as investors responded positively to Tuesday's financial results
Butterfield Bank shares rallied strongly on both the Bermuda Stock Exchange and the New York Stock Exchange after the bank had reported earnings of nearly $50 million for the second quarter on Tuesday.
On the BSX, Butterfield climbed $1.50, or 3.2 per cent, to a new high of $49 as 3,547 shares changed hands.
The bank’s US-listed shares had an even better day, soaring $3.04, or 6.5 per cent, to reach an all-time closing high of $49.99.
Argus Group Holdings Ltd remained unchanged at $4.10 on the trading of 20,000 shares.
The Royal Gazette/BSX Index gained 67.46 points, or 2.5 per cent, to end the day on 2,798.27.
