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

The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) declared a quarterly dividend on Tuesday, April 23rd, Zacks reports. Investors of record on Tuesday, May 7th will be given 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 yield of 5.23%. The ex-dividend date of this dividend is Monday, May 6th.

Bank of N.T. Butterfield & Son Stock Up 5.1 %

NYSE NTB opened at $33.66 on Thursday. The stock’s 50 day moving average is $30.72 and its 200 day moving average is $29.77. The company has a current ratio of 0.63, a quick 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 $33.80. The stock has a market cap of $1.69 billion, a PE ratio of 7.56 and a beta of 1.29.

Bank of N.T. Butterfield & Son (NYSE:NTB) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $1.17 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 23.40% and a net margin of 29.60%. The company had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $137.28 million. During the same period in the previous year, the firm earned $1.24 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. Research analysts predict that Bank of N.T. Butterfield & Son will post 4.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on NTB shares. Keefe, Bruyette & Woods decreased their price objective on Bank of N.T. Butterfield & Son from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. The Goldman Sachs Group upped 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 report on Thursday, January 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.40.

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.