Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) to Issue Quarterly Dividend of $0.50

Bank of N.T. Butterfield & Son Limited (The) (NYSE:NTB) declared a quarterly dividend on Tuesday, April 28th. Investors of record on Wednesday, May 13th will be given a dividend of 0.50 per share by the bank on Wednesday, May 27th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, May 13th.

Bank of N.T. Butterfield & Son has increased its dividend payment by an average of 0.0%annually over the last three years. Bank of N.T. Butterfield & Son has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of N.T. Butterfield & Son to earn $6.70 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 29.9%.

Bank of N.T. Butterfield & Son Trading Up 0.6%

NTB opened at $56.19 on Wednesday. The firm has a market cap of $2.36 billion, a P/E ratio of 10.25 and a beta of 0.51. Bank of N.T. Butterfield & Son has a 12 month low of $39.74 and a 12 month high of $57.84. The stock has a 50-day moving average of $52.97 and a 200 day moving average of $50.03.

Bank of N.T. Butterfield & Son (NYSE:NTB) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $1.55 EPS for the quarter, topping the consensus estimate of $1.40 by $0.15. The company had revenue of $93.29 million during the quarter, compared to analyst estimates of $150.35 million. Bank of N.T. Butterfield & Son had a return on equity of 21.72% and a net margin of 29.00%.The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.30 earnings per share. On average, research analysts forecast that Bank of N.T. Butterfield & Son will post 5.94 earnings per share for the current fiscal year.

Institutional Trading of Bank of N.T. Butterfield & Son

Several institutional investors have recently added to or reduced their stakes in NTB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Bank of N.T. Butterfield & Son by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,391 shares of the bank’s stock worth $1,027,000 after purchasing an additional 1,148 shares during the last quarter. Jane Street Group LLC lifted its stake in Bank of N.T. Butterfield & Son by 80.3% in the first quarter. Jane Street Group LLC now owns 70,537 shares of the bank’s stock worth $2,745,000 after purchasing an additional 31,420 shares during the last quarter. Prudential Financial Inc. bought a new stake in Bank of N.T. Butterfield & Son in the second quarter worth about $243,000. Invesco Ltd. lifted its stake in Bank of N.T. Butterfield & Son by 3.8% in the second quarter. Invesco Ltd. now owns 917,385 shares of the bank’s stock worth $40,622,000 after purchasing an additional 33,657 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Bank of N.T. Butterfield & Son by 204.3% in the second quarter. EverSource Wealth Advisors LLC now owns 779 shares of the bank’s stock worth $34,000 after purchasing an additional 523 shares during the last quarter. Institutional investors own 62.73% of the company’s stock.

About Bank of N.T. Butterfield & Son

Bank of N.T. Butterfield & Son Limited, commonly known as Butterfield, is a Bermuda-based provider of banking and wealth management services. Founded in 1858, the firm has grown from a local colonial bank into an international financial institution. With a focus on personalized client service, Butterfield offers a comprehensive suite of banking and fiduciary solutions to private individuals, families, and corporate clients.

The bank’s core activities include private banking, retail and commercial lending, trust and corporate administration, and fund services.