Bank of N.T. Butterfield & Son (NYSE:NTB) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings data on Tuesday. The bank reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06, Briefing.com reports. Bank of N.T. Butterfield & Son had a return on equity of 22.32% and a net margin of 25.97%. The firm had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $142.07 million. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis.

Bank of N.T. Butterfield & Son Stock Performance

Shares of NYSE:NTB traded up $0.28 during trading on Thursday, reaching $38.23. The stock had a trading volume of 240,936 shares, compared to its average volume of 198,712. The stock has a fifty day simple moving average of $37.30 and a two-hundred day simple moving average of $35.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.10. Bank of N.T. Butterfield & Son has a 52 week low of $24.62 and a 52 week high of $40.55. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 8.59 and a beta of 1.18.

Bank of N.T. Butterfield & Son Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.76 annualized dividend and a yield of 4.60%. Bank of N.T. Butterfield & Son’s dividend payout ratio (DPR) is presently 39.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NTB. Wells Fargo & Company lifted their price target on Bank of N.T. Butterfield & Son from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, July 26th. The Goldman Sachs Group boosted their target price on shares of Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods downgraded shares of Bank of N.T. Butterfield & Son from an “outperform” rating to a “market perform” rating and cut their price target for the company from $44.00 to $41.00 in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of N.T. Butterfield & Son currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

About Bank of N.T. Butterfield & Son

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.