Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Earnings Results

Bank of N.T. Butterfield & Son (NYSE:NTB) posted its earnings results on Monday. The bank reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04, Briefing.com reports. The firm had revenue of $143.10 million for the quarter, compared to the consensus estimate of $139.75 million. Bank of N.T. Butterfield & Son had a return on equity of 22.47% and a net margin of 25.97%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS.

Bank of N.T. Butterfield & Son Stock Down 2.6 %

Bank of N.T. Butterfield & Son stock traded down $1.02 during mid-day trading on Wednesday, reaching $38.22. 371,173 shares of the company were exchanged, compared to its average volume of 209,092. The business has a fifty day moving average of $35.09 and a 200 day moving average of $32.60. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $1.99 billion, a P/E ratio of 8.82 and a beta of 1.20. Bank of N.T. Butterfield & Son has a 12-month low of $24.62 and a 12-month high of $40.55.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be issued a $0.44 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.60%. Bank of N.T. Butterfield & Son’s payout ratio is 39.55%.

Analysts Set New Price Targets

NTB has been the topic of several recent analyst reports. Raymond James reiterated an “outperform” rating and set a $36.00 target price (up from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday, April 25th. Piper Sandler reissued an “overweight” rating and set a $38.00 price target (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday, April 25th. Finally, The Goldman Sachs Group raised their target price on Bank of N.T. Butterfield & Son from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bank of N.T. Butterfield & Son has an average rating of “Moderate Buy” and an average target price of $36.80.

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.