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Butterfield hits four-year high

Shares of Butterfield Bank closed above $2 for the first time in four years after surging three percent in Bermuda Stock Exchange trading today.

The bank rose six cents to $2.05 on the trading of 60,000 shares.

It was on March 5, 2010, when Butterfield shares closed on $2.50, that the bank last finished a trading session above $2, according to BSX data. That was just two days after the bank announced it had raised $550 million in capital to help overcome the massive losses sustained in the aftermath of the global financial crisis.

The only other mover was insurer BF&M Ltd, which fell 25 cents, or 1.5 percent, to close on $16.65, as 400 shares changed hands.

Butterfield's move was sufficient to drive The Royal Gazette/BSX Index up 26,6 points, or 1.88 percent, to 1,445.22.

The BSX Insurance Index gained 0.85 of a point to close on 1,392.87.

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Published March 07, 2014 at 5:48 pm (Updated March 07, 2014 at 5:48 pm)

Butterfield hits four-year high

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