Bank of N.T. Butterfield & Son (NYSE:NTB) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) issued its quarterly earnings results on Tuesday. The bank reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.21, Briefing.com reports. The business had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. Bank of N.T. Butterfield & Son had a net margin of 29.60% and a return on equity of 24.29%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.24 EPS.

Bank of N.T. Butterfield & Son Price Performance

NYSE NTB traded up $0.94 on Wednesday, reaching $32.97. The company had a trading volume of 102,235 shares, compared to its average volume of 209,817. The firm’s 50 day moving average price is $30.65 and its 200 day moving average price is $29.74. Bank of N.T. Butterfield & Son has a 12 month low of $22.93 and a 12 month high of $33.80. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.66 billion, a PE ratio of 7.13 and a beta of 1.29.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.76 dividend on an annualized basis and a yield of 5.34%. Bank of N.T. Butterfield & Son’s dividend payout ratio is currently 38.60%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NTB. Keefe, Bruyette & Woods dropped their price target on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. The Goldman Sachs Group lifted their target price on shares of Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Bank of N.T. Butterfield & Son Company Profile

The Bank of N.T. Butterfield & Son Limited provides a range of community, commercial, and private banking services to individuals and small to medium-sized businesses. It accepts retail and corporate checking, savings, term, and interest bearing and non-interest bearing deposits. The company's lending portfolio includes residential mortgage lending, automobile lending, consumer financing, credit cards, overdraft facilities, commercial real estate lending, and commercial and industrial loans, as well as overdraft facilities to commercial and corporate customers.