The Bank of N.T. Butterfield & Son Limited Plans 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Monday, May 6th.

Bank of N.T. Butterfield & Son has a payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of N.T. Butterfield & Son to earn $4.70 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 37.4%.

Bank of N.T. Butterfield & Son Stock Performance

NYSE:NTB opened at $35.37 on Friday. The company’s 50-day moving average is $31.29 and its two-hundred day moving average is $30.12. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 7.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.66 and a quick ratio of 0.66. Bank of N.T. Butterfield & Son has a 1-year low of $22.93 and a 1-year high of $36.00.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its quarterly earnings data 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 return on equity of 23.18% and a net margin of 27.95%. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $137.28 million. During the same period last year, the company earned $1.24 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts forecast that Bank of N.T. Butterfield & Son will post 4.4 EPS for the current year.

Wall Street Analysts Forecast Growth

NTB has been the topic of a number of research analyst reports. Raymond James reissued an “outperform” rating and issued a $36.00 price target (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. The Goldman Sachs Group raised their price target on Bank of N.T. Butterfield & Son from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods dropped 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. Finally, Piper Sandler reissued an “overweight” rating and set a $38.00 target price (up previously from $34.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has an average rating of “Moderate Buy” and a consensus target price 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.