Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) released its quarterly earnings data on Monday. The bank reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04, Briefing.com reports. The company had revenue of $143.10 million during 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 firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 earnings per share.

Bank of N.T. Butterfield & Son Trading Down 1.5 %

NTB stock traded down $0.59 during midday trading on Wednesday, hitting $38.65. The stock had a trading volume of 184,840 shares, compared to its average volume of 207,770. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The firm has a market cap of $1.99 billion, a P/E ratio of 8.82 and a beta of 1.20. The business has a fifty day moving average price of $35.09 and a two-hundred day moving average price of $32.60. Bank of N.T. Butterfield & Son has a 1-year low of $24.62 and a 1-year high of $40.55.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Monday, August 5th. Bank of N.T. Butterfield & Son’s dividend payout ratio is presently 39.55%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NTB shares. Piper Sandler restated an “overweight” rating and issued a $38.00 price target (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a research report on Thursday, April 25th. Raymond James restated 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 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 research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and five have assigned 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 $36.80.

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.