The Bank of N.T. Butterfield & Son Limited Announces Quarterly Dividend of $0.44 (NYSE:NTB)

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) announced a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be paid a dividend of 0.44 per share by the bank on Tuesday, May 21st. This represents a $1.76 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son Trading Up 0.8 %

Shares of Bank of N.T. Butterfield & Son stock traded up $0.28 during mid-day trading on Thursday, hitting $33.94. The stock had a trading volume of 64,287 shares, compared to its average volume of 210,131. The firm has a 50-day moving average of $30.72 and a two-hundred day moving average of $29.77. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 12-month low of $22.93 and a 12-month high of $34.00. The firm has a market cap of $1.71 billion, a P/E ratio of 7.56 and a beta of 1.29.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its earnings results on Wednesday, April 24th. The bank reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Bank of N.T. Butterfield & Son had a net margin of 29.60% and a return on equity of 23.40%. The company had revenue of $142.80 million for the quarter, compared to analyst estimates of $137.28 million. During the same period in the prior year, the business earned $1.24 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that Bank of N.T. Butterfield & Son will post 4.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NTB has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday. The Goldman Sachs Group raised their price objective 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

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.