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

Bank of N.T. Butterfield & Son (NYSE:NTB) issued its quarterly earnings data on Tuesday. The bank reported $1.17 EPS for the quarter, topping the consensus estimate of $0.96 by $0.21, Briefing.com reports. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. Bank of N.T. Butterfield & Son had a return on equity of 23.40% and a net margin of 29.60%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 earnings per share.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NTB traded up $0.18 on Thursday, reaching $33.84. 149,843 shares of the company’s stock traded hands, compared to its average volume of 211,344. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.70 billion, a PE ratio of 7.60 and a beta of 1.29. The stock’s 50 day simple moving average is $30.72 and its two-hundred day simple moving average is $29.77. Bank of N.T. Butterfield & Son has a 52-week low of $22.93 and a 52-week high of $34.06.

Bank of N.T. Butterfield & Son Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Monday, May 6th. Bank of N.T. Butterfield & Son’s payout ratio is 39.55%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Raymond James reissued an “outperform” rating and issued a $36.00 price objective (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. The Goldman Sachs Group increased their price objective on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

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.