Bank of N.T. Butterfield & Son (NYSE:NTB) Posts Earnings Results, Beats Estimates By $0.21 EPS

Bank of N.T. Butterfield & Son (NYSE:NTB) announced its earnings results on Tuesday. The bank reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.21, Briefing.com reports. Bank of N.T. Butterfield & Son had a net margin of 29.60% and a return on equity of 23.40%. The company had revenue of $142.80 million during the quarter, compared to analyst estimates of $137.28 million. During the same period in the previous year, the business earned $1.24 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year.

Bank of N.T. Butterfield & Son Stock Up 0.5 %

NYSE:NTB traded up $0.18 during midday trading on Thursday, reaching $33.84. 149,843 shares of the stock traded hands, compared to its average volume of 211,344. Bank of N.T. Butterfield & Son has a 12-month low of $22.93 and a 12-month high of $34.06. The business has a 50-day moving average of $30.72 and a two-hundred day moving average of $29.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $1.70 billion, a PE ratio of 7.60 and a beta of 1.29.

Bank of N.T. Butterfield & Son Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Investors of record on Tuesday, May 7th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, May 6th. This represents a $1.76 dividend on an annualized basis and a yield of 5.20%. Bank of N.T. Butterfield & Son’s payout ratio is 39.55%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of 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. The Goldman Sachs Group lifted their target price on shares of 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. Raymond James restated an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of Bank of N.T. Butterfield & Son in a research note on Thursday. Finally, Piper Sandler restated an “overweight” rating and issued a $38.00 target price (up from $34.00) on shares of Bank of N.T. Butterfield & Son in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

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.